MANILA - ABS-CBN said Thursday Eugenio "Gabby" Lopez III resigned as the Chairman Emeritus and Director of ABS-CBN Corp effective immediately.
Read ABS-CBN's official statement below:
Mr. Eugenio “Gabby” Lopez III, today, tendered his resignation for personal reasons as Chairman Emeritus and Director of ABS-CBN Corporation. Mr. 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.
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 ofthe 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.