The majority faction of the Lopez family has escalated its corporate battle for control of their business empire, claiming to have uncovered a third “poison pill” provision designed to entrench First Philippine Holdings Corp. (FPH) Chairman and Chief Executive Officer Federico “Piki” R....
Two independent directors of Lopez Holdings Corp. have resigned from the seven-member board as the bitter leadership struggle within one of the Philippines ' most powerful dynasties threatens to paralyze the conglomerate’s governance. In a disclosure to the Philippine Stock Exchange, Lopez...
First Gen Corp. solidified a ₱23.5 billion “poison pill” provision just one week after the Lopez family board moved to oust the company’s chief executive officer, newly revealed regulatory filings showed. In a disclosure to the Philippine Stock Exchange on Monday, May 4, the power producer...
The Social Security System (SSS) said it remains confident in the stability of First Gen Corp. even as a deepening rift within the Lopez family triggers calls for a leadership change and a government probe into “poison pill” provisions at the country’s largest renewable energy producer....
The controlling faction of the Lopez family is calling for a formal government inquiry into “poison pill” provisions at First Gen Corp., alleging the measures protect the tenure of President and Chief Executive Officer Federico R. Lopez, at the expense of state pension funds and international...
Members of the Lopez family controlling 71 percent of holding company Lopez Inc. have issued a public statement clarifying their decision to remove Federico “Piki” R. Lopez (FRL) as president, citing a total “loss of trust and confidence.” The group, representing three branches of the...
The majority shareholders of the Lopez family have petitioned the Securities and Exchange Commission (PSE) and the Philippine Stock Exchange (PSE) to investigate First Gen Corp. over alleged disclosure violations involving “poison pill” provisions in agreements with Prime Infrastructure...
First Philippine Holdings Corp. (FPH) indefinitely postponed its annual shareholders’ meeting as bitter internal feud between factions of the Lopez family spills over into the boardroom of one of the country’s most prominent conglomerates. The company informed the Philippine Stock Exchange on...
A majority of the board of directors and advisors of ABS-CBN Corp. issued a formal expression of support for the current leadership team, affirming their confidence in Chief Executive Officer Carlo Katigbak’s ability to return the former broadcast giant to profitability. The statement was signed...
The Department of Transportation (DOTr) will roll out its revamped Net Service Contracting Program on April 15 to keep public utility vehicles (PUVs) on the road despite volatile fuel prices. The program revives and expands service contracting first introduced during the pandemic. It departs from...
First Gen Corp. is on track to expand its hydroelectric footprint as it nears the completion of its storage facility in Nueva Ecija, the renewable energy arm of the Lopez family reported. In a filing with the Securities and Exchange Commission (SEC), the company’s subsidiary, First Gen Hydro...
Police forces across the country were placed on the highest security alert status starting Tuesday March 31, to ensure maximum security coverage as millions of Filipinos travel and observe the Holy Week. Gen. Jose Melencio C. Nartatez, Jr., chief of the Philippine National Police (PNP), said the...
