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| Oscar M. Lopez steps into new role as chairman emeritus |
 AT the annual stockholders’ meetings of First Philippine Holdings Corporation (FPHC) on May 31 and of Lopez Holdings Corporation (formerly Benpres Holdings Corporation) on June 10, Lopez Group chairman Oscar M. Lopez (OML) relinquished the roles of chairman and chief executive officer (CEO) in both companies in favor of those he acknowledged as “worthy younger successors.” Meralco chairman Manuel M. Lopez (MML) took over as chairman and CEO of Lopez Holdings while First Gen president and CEO Federico R. Lopez assumed the same posts in FPHC.At the same time, the boards of Lopez Holdings and FPHC bestowed upon OML the title of chairman emeritus in recognition of his “exemplary and unselfish service to the corporation.” OML served Lopez Holdings as chairman since 1993 and as CEO since 1999. He served FPHC as chairman and CEO since 1986 and as head of the Department of Economic Research and Development in the 1960s until he resigned when martial law was declared. Aside from his new role as chairman emeritus, OML also becomes Group chief strategic officer. ABS-CBN chairman Eugenio Lopez III was appointed as vice chairman of Lopez Holdings; FPHC chairman and CEO Federico R. Lopez as treasurer; and Salvador Tirona as president and chief operating officer (COO). Tirona was chief finance officer prior to the retirement of former Lopez Holdings president and COO Angel Ong on June 10. Comments (0)
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