ABS-CBN chairman emeritus Gabby Lopez resigns

THE man behind ABS-CBN Corporation has resigned.

The giant broadcast network’s chairman emeritus, Eugenio “Gabby” Lopez III, cited personal reason behind his resignation.

Aside from the ABS-CBN, Lopez has likewise tendered resignation as director of ABS-CBN Holdings Corp., Sky Vision Corp., Sky Cable Corp., Rockwell Land Corp., First Philippine Holdings Corp., and First Gen Corp.

According to ABS-CBN, the board of directors at ABS-CBN accepted the Lopez scion’s resignation “with regret.”

“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 compassion 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,” said the board’s statement.

“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.”

Following his resignation, Lopez will now be replaced by Mario Luza Bautista, a director on the board who has also served as general counsel for the corporation.

Lopez is the son of the late Eugenio “Kapitan” Lopez Jr., who was imprisoned during Martial Law when the network was shut down. While Gabby Lopez is out of the picture, the family is still in control of the corporation.

Oscar Lopez, uncle to Gabby and brother to Kapitan, is currently the chairman emeritus of Lopez Holdings, a majority shareholder of ABS-CBN Corp. Meanwhile, his brother Manuel is chairman and CEO of Lopez Holdings.