Lopez Holdings Corp. chairman emeritus Oscar Lopez and vice chairman Eugenio Lopez III resigned from the company's board because of personal reasons, the company said Friday.
They served as directors of Lopez Holdings since it was established in 1993 as the Lopez family's holding company for investments in ABS-CBN Corp. and First Philippine Holdings Corp.
"The board of directors thanked them for their tremendous contribution to Lopez Holdings for 27 years," Lopez Holdings said in a disclosure to the stock exchange.
The company said that at the organizational meeting that followed the annual meeting of shareholders, the vacated seats were filled by First Philippine Holdings Corp. chairman Federico Lopez and ABS-CBN Corp. chairman Martin Lopez.
Ambassador Manuel Lopez, chairman of the company since 2010, was elected chairman emeritus. Federico Lopez, treasurer of Lopez Holdings since 2010, was elected chairman. Martin Lopez was elected as vice chairman.
Miguel Lopez, executive vice president of Lopez Holdings, was elected as treasurer. He is also a member of the board of directors and treasurer of Rockwell Land Corp.