Tuesday, February 28, 2006

ABS-CBN President and CEO Resigns

February 27

Troubled ABS-CBN Broadcasting Corp the Philippines largest broadcast network said Luis Alejandro, its President and CEO of just 2 years in the chair had resigned to take effect from March 16.

ABS-CBN Chairman and Chief Executive Eugenio Lopez III will take over the reigns at the network.

Mr Alejandro will return to NutriAsia, a Philippine food company.

He is recognised for his time at ABS-CBN at trimming the network and reorganising it, but during his tenure lost the number one ratings position to rival GMA 7 Network which now charges more for advertising spots than ABS-CBN.

During Alejandro's tenure, ABS-CBN trimmed its staff and redesigned the network's organization.


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