Eugenio “Gabby” Lopez III has left his post as a director of the board of First Gen Corporation, in addition to resigning as chairman emeritus and director of sister company ABS-CBN Corporation, which was denied of a congressional franchise last July.
In a statement from ABS-CBN, the broadcast giant also announced Mr. Lopez’s departure from his directorial positions in other Lopez group companies such as First Philippine Holdings Corporation (FPH), ABS-CBN Holdings, Sky Vision Corporation, SkyCable Corporation, and Rockwell Land Corporation “effective immediately.”
FPH is the parent firm of First Gen. Mr. Lopez was first elected to First Gen’s board of directors in 2009.
Alongside the announcement of Mr. Lopez’s resignation, First Gen’s stock price at the Philippine Stock Exchange fell by 3.43% or Php0.85/share to close at Php23.95/share.
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