‘For personal reasons,’ Gabby Lopez resigns from ABS-CBN

‘For personal reasons,’ Gabby Lopez resigns from ABS-CBN

Gabby Lopez (Photo courtesy ABS-CBN)

MANILA — Eugenio “Gabby” Lopez III has on Thursday, 24 September 2020 resigned from ABS-CBN Corp.

Official announcement of Lopez’s resignation came on the heels of the network’s stockholders meeting.

As shown in this page, the announcement claimed Lopez has stepped down as chairman emeritus and director of the network that his father, Eugenio Lopez Jr., has built.

Aside from chairmanship at ABS-CBN, Gabby Lopez also tendered hi resignation from the same position at Sky Vision Corp., Sky Cable Corp., First Philippine Holdings Corp., First Gen Corp. and Rockwell Corp. “effective immediately.”

As of 11:44 a.m., Thursday, shares of stocks at ABS-CBN Corp. traded up 1% at P7.07 apiece.

“We thank him for his dedication and leadership in expanding and transforming ABS-CBN beyond television through the years,” said Kane Choa, corporate communications head at the embattled giant network.

“Just like his father, Eugenio ‘Kapitan Geny’ Lopez Jr., Gabby is a visionary and 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,” he said.

Lopez resigned more than 2 months after the House of Representatives denied ABS-CBN of a new franchise, prompting the shutdown of the network’s free TV and radio channels.

Below is the full statement from ABS-CBN.

This is a developing story. Pease check for more updates.

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