METRO MANILA – ABS-CBN chairman emeritus Eugenio “Gabby” Lopez III has tendered his resignation and left the network and other Lopez-owned companies on Thursday, citing ‘personal reasons’.
The announcement came just as the company held it’s first stockholders’ meeting since the house rejected it’s application for a franchise renewal.
ABS-CBN made the announcement through the Philippine Stock Exchange, citing that Lopez will also be resigning as ABS-CBN Holdings Corporation, Sky Vision Corporation, Sky Cable Director.
ABS-CBN’s board of directors said in a statement thanking Lopez for his dedication and leadership in the expansion of the network’s beyond television through the years, that Gabby is a visionary and compassionate leader driven by his love for the Philippines and it’s people.
The firm’s board of directors elected Mario Luza Bautista as the director of the company to fill the position Lopez vacated. He has served as the general counsel and a member of the board since 2011.
Lopez will remain a stockholder of ABS-CBN, holding 769,960 shares.
Last July, 70 lawmakers voted to denied ABS-CBN’s franchise renewal application that caused the media titan to ceased it’s broadcast and radio operations. The network has been relying on businesses that doesn’t require a franchise since. ABS-CBN went up 1% to close at P7.07 each on Thursday as the network continues to gain ground in the entertainment industry through it’s presence on the digital world attracting million of views and followers.
Related Article: https://www.theasianaffairs.com/philippines/2020/09/11/ntc-recalls-frequencies-seals-abs-cbns-broadcast-shutdown/
Given the recent catastrophic explosions in Lebanon, Japanese technology company Icom issued a statement on Thursday to elucidate their role…
Trying to serve North Koreans, foreign relief workers and missionaries have encountered major obstacles over the past seven years. For…
On September 29, 2024, Earth will experience an amazing astronomical occurrence as a new "mini-moon" visits our planet momentarily for…
The choice of Singapore to apply flexible work schedules (FWA) represents a major change in its work culture to fit…
Still one of the most disastrous natural disasters striking numerous countries all around is flooding. Often driven by combining topographical,…
As Vietnam gets ready to install ten new underwater cables by 2030, the United States is pushing Vietnam to rethink…
This website uses cookies.
Read More