Gabby Lopez retires as the chairman of ABS-CBN Corporation, nominates his cousin Mark Lopez to take his place
Eugenio “Gabby” Lopez III, commonly known as simply Gabby Lopez ended his chairmanship over ABS-CBN Corporation for more than two decades.
He will assume the title of chairman emeritus and he will remain as a director of the Kapamilya network.
Lopez revealed the news on Thursday during to the shareholders during the annual meeting of the company.
He nominated his cousin Mark Lopez to take his place but he said that he will continue to provide consultative guidance to the board, according to the article published in Inquirer.
Gabby Lopez stated during his speech that ABS-CBN needs younger figures in top management to lead.
“The demographic profile of the Philippines has always been biased toward the youth. Who better to asses the needs of our audience than like-minded young managers,” the elder Lopez said.
The outgoing chairman who turned 65 years old last August, also said that today’s digital world is vastly different from the world he managed.
Mark Lopez, on the other hand, is 45 years old while the Chief Executive Officer of the company Carlo Katigbak is turning 48 this month.
The younger Lopez has been in the Kapamilya network for seven years now. His position was the chief technology officer of the media giant.
He is responsible for the “company’s system modernization, which included moving key functions to the cloud, and automating content creation and delivery”, based on the article.
Under his lead, the shift to digital television of ABS-CBN was done.
His succession to the position has already been expected even five years ago.
Before having his position in ABS-CBN, Mark Lopez worked for 13 years in Manila Electric Company and was the vice president and chief information officer.