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MANILA, Philippines – Citing “personal reasons,” ABS-CBN Chairman and Director Emeritus Eugenio “Gabby” Lopez III tendered his resignation on Thursday, the media giant announced.
In a press release, ABS-CBN said that Lopez also tendered his resignation as director of ABS-CBN Holdings Corporation, Sky Vision Corporation and Rockwell Land Corporation “effective immediately.”
The Corporation’s Board of Directors accepted López’s resignation, ABS-CBN said.
“He expressed appreciation for the trust of shareholders, as well as his co-directors and senior management for the privilege of having served with them throughout the years,” ABS-CBN said.
“We respect his decision, offer him our full support and express our sincere appreciation for the tradition of innovation, nationalism and public service that he cultivated in the minds and hearts of all Kapamilyas, past and present,” he added.
Mario Luza Bautista will replace López as director of ABS-CBN Corporation, the network said.
López tendered his resignation months after the House of Representatives rejected his offer to renew the franchise.
In 2018, he retired as president of ABS-CBN Corp. and assumed the position of president emeritus and director of the firm.
During the Chamber’s investigation into the network’s franchise, López was questioned about his citizenship, as the ownership and management of a media network should belong to a 100% Filipino.
López insisted that he is a Filipino by birth since his parents are Filipino citizens.
/ MUF
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