MANILA - The ABS-CBN Corp board of directors on Thursday elected Eugenio "Gabby" Lopez III as chairman emeritus and Martin "Mark" Lopez as chairman.
Gabby Lopez, 65, is the second to hold the title of chairman emeritus after his late father, Eugenio "Geny" Lopez Jr, known fondly as "Kapitan." The family patriarch became chairman emeritus when his son succeeded him as chairman in 1997.
"As every athlete knows, there comes a time when inevitably it’s time to let go of the reins and allow others to take over. My father has always said ‘broadcasting’ is for the young. After all, today’s digital world is vastly different from the world I managed,” Gabby Lopez told an annual meeting of stockholders. He said that he “will not disappear into the woodwork.”
Gabby Lopez did not seek a fresh term as chairman as part of the company's succession planning.
He also served as CEO of ABS-CBN from 1997 to 2012 and is credited with steadily transforming the company from being the country’s biggest broadcasting network into being the leading media and entertainment company.
Under his leadership, ABS-CBN diversified into interactive and online media, international and domestic cable and satellite channels, broadband services, sports programming, consumer products and licensing, digital TV, and immersive experiences.
It was also under his leadership that ABS-CBN launched cable TV service SkyCable, global subscription channel The Filipino Channel, and video-on-demand streaming sites iWantTFC and iWant TV. He also pursued the launch of ABS-CBN TVplus, the country’s first-ever digital terrestrial television product.
"I accept this huge responsibility of carrying on the company’s vision of being in the service of the Filipino – using the blueprint of excellence and innovation set by Gabby. ABS-CBN has played an instrumental role in nation-building in the past 65 years," Mark Lopez said.
"We understand what the company means to the Filipino and this country, and we will take this to heart as we guide the company through its digital transformation," added the new chairman, who was identified as a successor as early as 5 years ago.
In his previous role as chief technology officer, Mark was responsible for setting the company’s strategic directions and ensuring operational excellence in information and communications, as well as technology broadcast engineering.
He spearheaded ABS-CBN’s system modernization, highlighted by the migration to the cloud and the automation of content creation and delivery to various media platforms. He was also responsible for ABS-CBN’s migration to HD and the completion of the digital terrestrial television infrastructure.
Prior to joining ABS-CBN, Mark spent 13 years at Meralco, the largest power distribution company in the country, where he eventually assumed the role of vice president and chief information officer. He also served as president of e-Meralco Ventures Inc until 2010.
Mark completed INSEAD’s general management program in 2017, received his Executive Masters in Business Administration degree from the Asian Institute of Management in 2003, and earned his bachelor’s degree in Business Administration from Menlo College, California in 1994.