Published
By Myrna M. Velasco
With an overwhelming
tribute from employees and executives of the Manila Electric Company (Meralco),
former Ambassador to Japan Manuel M. Lopez has bowed out and relinquished his
board seat to Elpidio L. Ibanez, who previously served as president and chief
executive officer of First Philippine Holdings Corporation of the Lopez group.
Ibanez will be the
board representative for the remaining stake of the Lopez group in the
country’s biggest power utility firm.
When his exit from the
Meralco board was announced during the company’s annual stockholders’ meeting
on May 29, Lopez was given an standing ovation after the showing of an audio-visual
presentation (AVP) depicting his ‘true nature’ as “the boss” and for being “one
of them” in the Meralco family throughout his stint as board chairman,
president and CEO of the utility firm.
Lopez served the
Meralco board for more than 32 years, and went on to become the company’s chief
executive from July 1, 2001 to June 30, 2010.
In extending their
homage to Lopez, the Meralco employees and executives were mostly in tears
while saying “Thank you MML” – the three letters that became a magic word at the
Meralco office-units for a long time.
They vouched about
Lopez’s very hands-on management style – from planning company events and even
up to the extent of going with them on field at times of facilities’
restoration when natural disasters strike.
Meralco Senior Vice
President Alfredo S. Panlilio similarly indicated that the company’s “culture
of malasakit” (caring for others) is a hallmark profoundly instilled by Lopez
at the company, hence, it is the promise of current Meralco leadership to have
that nurtured and for it to flourish in the generations to come.
Even current Meralco
Chairman Manuel V. Pangilinan admitted to media that he was “moved into tears”
with the tribute to the ambassador, which was manifest when he went back to the
microphone for the continuation of the utility firm’s stockholders’ meeting.
For Meralco President
and CEO Oscar S. Reyes, he has nothing but “deep gratitude” to the
service that Lopez had extended to the company in a stretch of several decades.
He asserted that Lopez
“has been quite an inspiration” and has very “significant contribution” to the
company’s 115 years of history.
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