Gabby Lopez resigns as chairman emiritus, director of ABS-CBN

MANILA, Philippines – Mr. Eugenio “Gabby” Lopez III tendered his resignation for "personal reasons" as Chairman Emeritus and Director of ABS-CBN Corporation, the media giant announced on Thursday, September 24.

Gabby Lopez resigns from ABS-CBN.
Gabby Lopez resigns from ABS-CBN. Photo Credit: ABS-CBN

In a statement, ABS-CBN said Lopez also tendered his resignation as director of ABS-CBN Holdings Corporation, Sky Vision Corporation, Sky Cable Corporation, First Philippine Holdings Corporation, First Gen Corporation, and Rockwell Land Corporation effective immediately.

It is not yet clear if the resignation of Lopez is related to the denial of ABS-CBN's franchise application. During the hearing, Lopez’s US citizenship was among the factors questioned by lawmakers for alleged foreign ownership of the media company.

Here's the continuation of ABS-CBN's statement on Gabby Lopez resignation.

He expressed his appreciation for the trust of the stockholders as well as to his co-directors and senior management for the privilege of having served with them over the years.

At the organizational meeting held today, the Board of Directors of the Corporation accepted with regret the resignation of Mr. Eugenio Lopez III.

“We thank him for his dedication and leadership in expanding and transforming ABS-CBN beyond television through the years. Just like his father, Eugenio ‘Kapitan Geny’ Lopez Jr., Gabby is a visionary and a compassionate leader driven by his love for the Philippines and the Filipino people. He would always tell the men and women of ABS-CBN that being a part of the network is not a job, but a calling.

We respect his decision, offer him our full support, and express our sincerest gratitude for the tradition of innovation, nationalism, and public service that he cultivated in the minds and hearts of all Kapamilyas, past and present.

We shall continue the journey that he and his father began as we remain in the service of the Filipino.”

Meanwhile, the Board of Directors elected today Mr. Mario Luza Bautista as Director of the Corporation to fill the vacancy created by the resignation of Mr. Lopez. Mr. Mario Luza Bautista is 66 years old. He has served as the General Counsel of the Company and a member of the Board of Advisors of the Company since 2011.

He is also a Board Adviser of First Philippine Holdings Corporation. He is a Founding Partner of the Poblador Bautista and Reyes Law Office and has been its Managing Partner since 1999. Mr. Bautista graduated with a Bachelor of Arts Degree in Communication Arts from the Ateneo de Manila University in 1975. He obtained his Bachelor of Laws Degree from the University of the Philippines in 1979 and ranked sixth in the Bar Examinations of that year.

— The Summit Express

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