Tag: Lopez Inc.

Serious lapses in corporate governance, not a lingering family feud as some would have it, drove the decision to remove Federico “Piki” Lopez as president and chief executive officer of Lopez Inc., according to controlling shareholders.

A deepening corporate power struggle inside one of the Philippines’ most influential business families has escalated into a regulatory flashpoint, with the controlling shareholders of Lopez Inc. calling for an official probe into alleged disclosure lapses tied to major energy transactions and so-called "poison pill" provisions.

A widening family rift inside Lopez Inc. is escalating into a high-stakes corporate battle over provisions that could force listed power generation firm First Gen Corp. to sell key energy assets at a steep discount, potentially wiping out nearly P24 billion in value.

The majority bloc of Lopez, Inc., led by Eugenio Lopez III, has called for an audit of the privately-held family holding firm’s books, escalating tensions over recent high-value transactions involving key energy assets.

A long-simmering family dispute at Lopez Inc. has erupted into a full-blown governance battle, after shareholders aligned with Eugenio Gabriel “Gabby” Lopez III voted to remove Federico “Piki” Lopez as president and chief executive officer of the privately-held investment holding company, citing a breakdown in trust tied to undisclosed multibillion-peso transactions.