Gabby Lopez steps down; cousin Mark taking over

Eugenio “Gabby” Lopez III yesterday announced his retirement as ABS-CBN Corp. chair, an influential role that allowed him to define the entertainment and news experiences of millions of Filipinos over the last two decades.

During the media giant’s annual stockholders’ meeting, Lopez nominated his younger cousin Mark Lopez to take his place as ABS-CBN chair.

He will assume the title of chair emeritus and will stay on as a director of ABS-CBN. He told shareholders he would continue to provide “consultative” guidance to the board.

The elder Lopez, who served as ABS-CBN chair since 1997, is credited with growing the company into the media conglomerate that it is today.

It was also during his tenure when ABS-CBN embarked on an ambitious diversification program that included its entry into broadband internet via SkyCable and the launch of digital television.

His cousin, ABS-CBN CEO Carlo Katigbak, described him on Thursday as the “one constant” over the last 21 years, helping transform the company from a radio and TV network “into a truly diversified multimedia and content company.”

During his speech, the elder Lopez emphasized the need for younger figures in top management to lead ABS-CBN.

“The demographic profile of the Philippines has always been biased toward the youth. Who can asses better the needs of our audience than like-minded young managers,” Lopez, who turned 65 last August, said.

“Today’s digital world is vastly different from the world I managed,” he added.

Mark Lopez is 45 years old while Katigbak is turning 48 this month.

The elder Lopez noted that Mark Lopez’s role was envisioned to be mainly “a fiduciary responsibility.”

Mark Lopez has been with ABS-CBN for seven years. His role in the media giant was that of chief technology officer. A key initiative of his was the company’s system modernization, which included moving key functions to the cloud and automating content creation and delivery. He also had a direct hand in ABS-CBN’s shift to digital television.

Before joining ABS-CBN, he worked for 13 years in Manila Electric Co., where he rose to the rank of vice president and chief information officer.

In a statement, ABS-CBN said Gabby Lopez’s decision to step down was not related to the current political environment and was on account of previously set succession planning terms.

It said Mark Lopez was “identified as a successor as early as five years ago.”

ABS-CBN is one of the media groups that earned the ire of President Duterte for critical new reporting.

A separate issue dating back to the presidential campaign over ABS-CBN’s failure to air Mr. Duterte’s political ads further strained relations.

Last year, Mr. Duterte threatened to block the renewal of ABS-CBN’s franchise, which expires in 2020. During ABS-CBN’s previous annual stockholders’ meeting, Lopez, whose father was jailed during the martial law, downplayed those concerns, saying the threats were “part and parcel of our work being a media institution.”

“We will comply with all the requirements associated with the renewal of our franchise and we hope to participate in the renewal process,” Kane Choa, ABS-CBN head of communications, said yesterday.

Toward the end of his retirement speech, Lopez said he would continue to work and “not disappear into the woodwork.”

“I may be retired but I am not dead,” he quipped. “At the end of the day, I can also take time out to just relax and watch the grass grow. Nobody who knows me will ever believe that is what I will do.”


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Gabby Lopez retires as ABS-CBN chairman

Eugenio “Gabby” Lopez 3rd has stepped down as chairman of media giant ABS-CBN Corp, turning over the position to cousin Martin “Mark” Lopez.

Gabby Lopez’s retirement after over two decades at the helm was announced during ABS-CBN’s annual stockholders’ meeting on Thursday.

“As every athlete knows, there comes a time when inevitably it’s time to let go of the reins and allow others to take over,” he said in a speech.

“My father has always said ‘broadcasting’ is for the young. After all, today’s digital world is vastly different from the world I managed,” he added.

The 65-year-old Gabby, who also served as a chief executive officer from 1997 to 2012, stressed: “[I] will not disappear into the woodwork.”

He was then elected chairman emeritus, following his father Eugenio “Geny” Lopez Jr. who was given the post in 1997.

ABS-CBN said Gabby Lopez was responsible for transforming the company “from being the country’s biggest broadcasting network into being the country’s leading media and entertainment company.”

He paved the way for the introduction of the company’s cable TV service SkyCable, global subscription channel The Filipino Channel, and streaming sites TFC.tv and iWant TV, and ABS-CBN TVplus, a digital terrestrial television product.

The media firm’s new chairman, Mark Lopez, said he accepted “this huge responsibility of carrying on the company’s vision of being in the service of the Filipino—using the blueprint of excellence and innovation set by Gabby”.

“ABS-CBN has played an instrumental role in nation-building in the past 65 years. We understand what the company means to the Filipino and this country, and we will take this to heart as we guide the company through its digital transformation,” he added.

Mark was previously ABS-CBN’s chief technology officer, focusing on the company’s strategic directions and technology operations as well as its modernization program.

He also spent 13 years at power distribution utility Manila Electric Co. (Meralco) where he was vice-president and chief information officer, and president of subsidiary e-Meralco Ventures, Inc.

Also yesterday, ABS-CBN disclosed that its board had given the go-signal for an additional investment of P592 million to fund Sky Cable’e expansion.

Gabby Lopez turns over leadership to cousin

Eugenio “Gabby” Lopez III has been elected Chairman Emeritus of ABS-CBN Corporation after stepping down as Chairman of in favor of cousin Martin “Mark” Lopez, the son of Ambassador Manuel Lopez.

In a statement, ABS-CBN said its Board of Directors elected the new Chair and Chairman Emeritus during its organizational meeting as part of the company’s succession planning process.

Gabby, who turned 65 last August and is the second chairman emeritus in the company’s history, will remain as a director of the Board. His father Eugenio Lopez Jr. was given the same title after Gabby was elected chairman in 1997.

“As every athlete knows, there comes a time when inevitably it’s time to let go of the reins and allow others to take over,” he said.

He added that, “my father has always said ‘broadcasting’ is for the young. After all, today’s digital world is vastly different from the world I managed.”

In his speech after the ABS-CBN annual stockholders’ meeting, Lopez stressed that he “will not disappear into the woodwork.”

Gabby, who also served as CEO of ABS-CBN from 1997 to 2012, is credited with steadily transforming ABS-CBN from being the country’s biggest broadcasting network into being the country’s leading media and entertainment company.

Under his helm, ABS-CBN diversified into various successful ventures that include interactive and online media, international and domestic cable and satellite channels, broadband services, sports programming, consumer products and licensing, digital TV, and immersive experiences.

Meanwhile, Mark said “I accept this huge responsibility of carrying on the company’s vision of being in the service of the Filipino – using the blueprint of excellence and innovation set by Gabby.”

Already identified as a successor as early as five years ago, Mark said “We understand what the company means to the Filipino and this country, and we will take this to heart as we guide the company through its digital transformation.”

In his previous role as chief technology officer, Mark was responsible for setting the company’s strategic directions and ensuring operational excellence in information and communications, as well as technology broadcast engineering.

He spearheaded ABS-CBN’s system modernization, highlighted by the migration to the cloud and the automation of content creation and delivery to various media platforms.

He was also responsible for ABS-CBN’s migration to HD and the completion of the digital terrestrial television (DTT) infrastructure.

Prior to joining ABS-CBN, Mark spent 13 years at MERALCO, the largest power distribution company in the country, where he eventually assumed the role of vice president and chief information officer and concurrent to his role as CIO, he also served as the president of e-Meralco Ventures, Inc. until 2010.