ABS-CBN Corporation announced that Eugenio “Gabby” Lopez III has tendered his resignation as Chairman Emeritus and Director of ABS-CBN Corporation “for personal reasons.”
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 after the firm’s annual stockholders’ meeting, the ABS-cBN Board of Directors accepted with regret the resignation of Lopez.
“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,” the ABS-CBN Board said.
It added that, “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,” the firm vowed.
Mario Luza Bautista was elected as Director of the Corporation to fill the vacancy created by the resignation of Lopez. He has served as the General Counsel of the Company and a member of the Board of Advisors of the Company since 2011.
During the firm’s annual stockholders’ meeting, ABS-CBN President Carlo Katigbak noted that, “ABS-CBN is not just a broadcast company. Our mission has always been to serve the public by bringing them Entertainment and News that matters.”
“While broadcast television has allowed us to serve the most number of Filipinos, and while both the business and the audiences we serve have felt the pain of its shutdown, TV is not our only platform,” he pointed out.
Katigbak said the firm continues to “focus on our core capabilities—creating programs that entertain, inspire and give joy to Filipino families. And delivering news that informs, educates, and helps our kababayan, especially in their time of need.”