Oscar Moreno Lopez, the patriarch of the Lopez clan that owns media giant ABS-CBN, has passed away at the age of 93.
Lopez was chairman emeritus, chairman and chief executive officer of Lopez Holdings Corporation and First Philippine Holdings Corporation, which he headed for almost 25 years before stepping down in 2010 to serve as its chairman emeritus.
He also served as a director of ABS-CBN Corporation which is part of the Lopez Group, and served as chairman of the Lopez Group Foundation, and was chairman and president of the Eugenio Lopez Foundation, which administers the Lopez Museum and Library.
He is survived by eight children, including Federico “Piki” Lopez, the chairman and CEO of First Philippine Holdings, and several grandchildren.
Lopez was credited for steering First Philippine Holdings from virtual bankruptcy to viability and leadership. He led the company’s diversification from power distribution to power generation, manufacturing, and property development.
He was also known for carrying out programs in business excellence, corporate governance, and corporate social responsibility.
He was also behind the “Lopez Credo” which served as the Lopez Group of Companies’ corporate manifesto.
He believed that the primary reason for being of the group was to serve the Filipino people, a report on ABS-CBN News Online stated.