Eugenio Lopez III resigns as chairman emeritus, director of ABS-CBN Corp.

September 24, 2020

Eugenio Lopez III announced his resignation as chairman emeritus and director of ABS-CBN Corp. for ''personal reasons,'' the company said Thursday.

The move came a little over two months after the House of Representatives denied ABS-CBN of a new 25-year franchise. Its flagship radio station dzMM  and TV station Channel 2 have since shut down, leaving ANC at SkyCable as its remaining network.

The 68-year-old Lopez also gave up being director at Sky Vision Corp., Sky Cable Corp., First Philippine Holdings Corp., First Gen Corp. and Rockwell Corp ''effective immediately.''

The announcement was made after ABS-CBN's stockholders meeting, it added.

The board of directors of ABS-CBN accepted with regret Lopez's resignation.

''We respect his decision, offer him our full support, and express our sincerest gratitude for the tradition of innovation, nationalism and public service that he cultivated in the minds and hearts of all Kapamilyas, past and present,'' the company said.

''We thank him for his dedication and leadership in expanding and transforming ABS-CBN beyond television through the years,'' it added. DMS