Insider Spotlight
She was joined by STI Education Systems Holdings president and CEO Monico V. Jacob (appointed independent director) following ABS-CBN’s Aug. 19 annual stockholders’ meeting.
Two board changes
Santos-Concio and Jacob take the seats previously held by economist Emmanuel S. De Dios and Randolf S. David.
De Dios had served as an independent director for most of the period since 2014, putting him beyond the Securities and Exchange Commission’s nine-year cumulative term limit. David had served as an independent director since 2021.
Core leadership team intact
Chair Martin L. Lopez, president and CEO Carlo L. Katigbak, Federico R. Lopez and Rafael L. Lopez were reelected, along with independent director Honorio G. Poblador IV.
Santos-Concio previously served as ABS-CBN president and CEO from 2013 to 2015 and was a director from June 2024 to June 2025 after spending eight years on the company’s board of advisers.
Jacob brings decades of corporate leadership experience, having previously led Petron Corp., Philippine National Oil Co. and the Home Development Mutual Fund.
Making room for fresh capital
Shareholders also approved increasing the number of directors to nine from seven and tripling ABS-CBN’s authorized capital stock to P4.5 billion from P1.5 billion.
The capital increase would pave the way for ABS-CBN’s planned P6-billion fresh equity infusion, including P3.5 billion from I&C Holdings Corp., P2.2 billion from Lopez family vehicles Crème Investment Corp., Mantes Corporation and Presta Holdings Co. Inc., and P300 million from Lopez Inc.
The fresh capital is part of ABS-CBN’s broader effort to strengthen its balance sheet and rebuild the business after losing its broadcast franchise in 2020.
—Edited by Miguel R. Camus
