- Eugenio “Gabby” Lopez III officially stepped down as the chairman emeritus of ABS-CBN Corporation
- In their first stockholders’ meeting after the ABS-CBN shutdown, Lopez also announced that he resigned from their other family-owned companies
- Lopez remains grateful for the trust given to him by the stockholders to lead their corporations
- It will be Mario Luza Bautista that will fulfill the vacancy of Lopez in their companies
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Eugenio “Gabby” Lopez III officially resigned as the chairman emeritus and director of ABS-CBN Corporation on Thursday.
KAMI learned that Lopez also left some of their family-owned companies.
In a report by ABS-CBN Network, Lopez cited “personal reasons” after he decided to leave the Kapamilya network and their other companies.
The Board of Directors of the Corporation already accepted the resignation of Lopez.
As reported by CNN Philippines (authored by Melissa Luz Lopez), the company recently held its first stockholders’ meeting after the Congress denied its franchise for renewal.
Lopez also thanked the stockholders and his co-directors for trusting him to lead their corporations for many years.
According to the report of Inquirer (authored by Daphne Galvez), Mario Luza Bautista, the General Counsel of the Company, will be replacing Lopez as the director of ABS-CBN.
Eugenio “Gabby” Lopez III is a well-known businessman. He used to be the chairman and chief executive officer of ABS-CBN Corporation. In 2018, Lopez stepped down as the chairman of ABS-CBN, and his cousin Mark Lopez replaced him.
Four months ago, ABS-CBN officially signed off after its last episode of TV Patrol was shown on-air. Noli de Castro also gave an emotional farewell message before they went off-air.
In May 2020, the National Telecommunications Commission issued a cease and desist order against the Kapamilya network while its franchise renewal was still pending during that time.
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