ABS-CBN statement on the resignation of President Emeritus Eugenio “Gabby” López III

MANILA – ABS-CBN said Thursday that Eugenio “Gabby” López III resigned as president emeritus and director of ABS-CBN Corp with immediate effect.

Read the official ABS-CBN statement below:

Today, Mr. Eugenio “Gabby” López III resigned for personal reasons as President Emeritus and Director of ABS-CBN Corporation. Mr. López also resigned as a director of ABS-CBN Holdings Corporation, Sky Vision Corporation, Sky Cable Corporation, First Philippine Holdings Corporation, First Gen Corporation and Rockwell Land Corporation with immediate effect.

He expressed his appreciation for the trust of the shareholders, as well as his co-directors and senior management for the privilege of having served with them throughout the years.

At the organizational meeting held today, the Board of Directors of the Corporation accepted with regret the resignation of Mr. Eugenio López III.

“We thank you for your dedication and leadership in expanding and transforming ABS-CBN beyond television over the years. Like his father, Eugenio ‘Kapitan Geny’ López Jr., Gabby is a visionary and compassionate leader driven by his love for the Philippines and the Filipino people. He always told the men and women of ABS-CBN that being part of the network is not a job, but a vocation.

We respect your decision, offer our full support, and express our sincere appreciation for the tradition of innovation, nationalism and public service that you cultivated in the minds and hearts of all Kapamilyas, past and present. We will continue the journey that he and his father began while remaining in the service of the Filipino. “

Meanwhile, the Board of Directors today elected Mr. Mario Luza Bautista as Director of the Corporation to fill the vacancy created by the resignation of Mr. López. Mr. Mario Luza Bautista is 66 years old. He has served as General Counsel of the Company and a member of the Company’s Board of Advisors since 2011. He is also an Advisor to the Board of First Philippine Holdings Corporation. He is a Founding Partner of Poblador Bautista and Reyes Law Office and has been its Managing Partner since 1999. Mr. Bautista graduated with a Bachelor of Arts in Communication from Ateneo de Manila University in 1975. He earned his Bachelor of Laws. Graduated from the University of the Philippines in 1979 and ranked sixth in that year’s exams.