Tag: Resignation

Manila, Philippines – Prominent Filipino businessman Fernando Zobel de Ayala has resigned from all business positions under the publicly-listed holding company Ayala Group. The companies that he will be resigning from include Ayala Corporation, Ayala Land, Bank of the Philippine Islands (BPI), and Globe Telecom.

In multiple filings made by all aforementioned companies at the Philippine Stock Exchange (PSE), all stated that Zobel rendered his resignation over medical concerns, and said he will be focusing on his recovery.

Zobel held the following positions at these companies namely the vice-chairman of the board of directors, president and CEO at Ayala Corporation; chairman of the board of directors at Ayala Land and BPI; as well as co-vice chairman of the board of directors at Globe Telecom.

As part of the announcement, Ayala Corporation has appointed Cezar P. Consing as their acting president and CEO for the meantime.

Fernando Zobel de Ayala overtook the president and CEO role from Jaime Augusto Zobel de Ayala in April 2021.

Established in 1834, Ayala Corporation is one of the largest corporations in the Philippines and with a massive portfolio of diverse business interests, including investments in retail, education, real estate, and banking, as well as telecommunications, water infrastructure, renewable energy, and electronics.

Philippines – Philippine conglomerate ABS-CBN corporation which owns namesake media and broadcasting giant has announced that its chairman emeritus and director Eugenio “Gabby” Lopez has tendered his resignation. Lopez has also decided to step down effective immediately as acting director of the conglomerate’s subsidiaries: ABS-CBN Holdings Corporation, Sky Vision Corporation, Sky Cable Corporation, First Philippine Holdings Corporation, First Gen Corporation, and Rockwell Land Corporation. 

ABS-CBN said it held an organizational meeting today where the board of directors of the corporation has accepted with regret the resignation of Lopez

“We thank him for his dedication and leadership in expanding and transforming ABS-CBN beyond television through the years. Just like his father, Eugenio ‘Kapitan Geny’ Lopez Jr., Gabby is a visionary and a compassionate leader driven by his love for the Philippines and the Filipino people. He would always tell the men and women of ABS-CBN that being a part of the network is not a job, but a calling,” the board said. 

Lopez cited personal reasons for his resignation. According to the press statement issued by ABS-CBN, he expresses his appreciation for the trust of the stockholders as well as to his co-directors and senior management for the privilege of having served with them over the years.

The board of directors has elected today Mario Luza Bautista to fill the directorial position. Bautista, who is 66 years old, has served as the general counsel of the company and has been a member of the company’s board of advisors since 2011. He is also a board adviser of First Philippine Holdings Corporation.

ABS-CBN Corporation’s flagship media network has been shut down in May by the country’s National Telecommunications Commission due to its franchise expiry. Starting July, a number of its broadcast personalities has subsequently announced their resignation from the network.

United States – The incumbent chief marketing officer of Facebook, Antonio Lucio took to their own social media platform the announcement of his resignation, which will be effective Sept. 18. 

Lucio said that his decision to step down was due to his desire to refocus his time on advocating for causes of diversity and inclusion, issues which have demanded greater attention in the past few months in the United States. 

“Given the historical inflection point we are in as a country regarding racial justice, I have decided to dedicate 100% of my time to diversity, inclusion, and equity,” wrote Lucio.

In May, a series of protests for racial justice began in the US when African-American George Floyd was killed by a white police officer during an arrest in Minneapolis city. 

Lucio said, “‘Although these issues have been core to my personal purpose for many years, and they were an important element of my work, I want to make them my sole focus.” 

Come September, Lucio will have served a total of two years on Facebook. In his post, he recounted the projects that the company has launched under his leadership and said that although there is “still a lot of work to be done, [there] is a strong foundation from which to build.”

“The work and progress made over the last two years [are] all due and thanks to [the team]: “More Together” for Facebook app, “It’s Between You” for WhatsApp, the Instagram anti-bullying platform, the launch of Messenger Rooms, “Never Alone,” “Born in Quarantine” and the launch of a new identity system for the corporate brand.”

Expressing his confidence to the team ahead, he wrote, “This team is ready to deliver its best work yet.”

Meanwhile, Facebook said that they support Lucio’s decision. 

“Antonio did incredible work telling our story during a transformative period for the company, “ a spokesperson said.

“[Facebook is] grateful for his enormous contributions and wish him well in his next chapter.”