Gabby Lopez steps down as ABS-CBN Chairman

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DAVAO CITY — Eugenio ‘Gabby’ Lopez III, the chairman emeritus and director of ABS-CBN Corporation resigned from the network  and other Lopez-owned companies on Thursday.

Lopez tendered his resignation for personal reasons. He also resigned from Holdings Corporation, Sky Vision Corporation, Sky Cable Corporation, First Philippine Holdings Corporation, First Gen Corporation, and Rockwell Land Corporation.

In a statement, the network’s board of directors said they accepted his resignation “with regret” as they acknowledged his deep contributions to the company: “We thank him for his dedication and leadership in expanding and transforming ABS-CBN beyond television through 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.

The heir of the country’s biggest media conglomerate found himself at the center of questioning among House members back in June as they staged hearings on ABS-CBN’s request for another 25-year franchise.

While Lopez’s cousin Martin “Mark” Lopez will remain as ABS-CBN chairman, while nephew Carlo Katigbak will continue to serve as president and chief executive officer of the network.-Newsline.ph

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