Gabby Lopez retires; Charo Santos is new CEO of ABS-CBN

Charo Santos-Concio. Photo courtesy of ABS-CBN.

MANILA, Philippines - The Lopez-led broadcasting firm ABS-CBN Corporation will have a new Chief Executive Officer (CEO) effective January 1, 2013.

In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, December 11, the ABS-CBN Board appointed Ma. Rosario Santos-Concio CEO of the country's biggest TV network.

Concio is replacing Eugenio "Gabby" Lopez III, 60, who announced his retirement as CEO of the corporation effective December 31, 2012. However, he will continue to act as Chairman of the ABS-CBN Board of Directors.

Eugenio Lopez III. Photo courtesy of ABS-CBN.

Santos-Concio is currently the President and Chief Operating Officer of ABS-CBN, a post she has held since 2008. She has also served as the Head of Channel 2 in 2006, Executive Vice President in 1998, among others.

Concio graduated cum laude from St. Paul's College in Manila with a degree in Communication Arts. - Rappler.com