Inquirer
MANILA, Philippines — Federico “Piki” Lopez was removed as president and CEO of Lopez Inc., a 71-percent majority of the board said Tuesday. The board voted 5-2 on Feb. 27 to remove Piki, with him and brother Benjamin Lopez dissenting, according to a statement Tuesday. READ: Lopez Inc. family feud explodes into leadership battle The majority cited “loss of trust and confidence” and removal for cause. They said company by-laws allow ouster even without cause via majority vote. A court order earlier blocked the move, This allowed Piki to remain in his post pending legal proceedings over the leadership dispute. […]... Keep on reading: Lopez Inc. board voted 5-2 to oust ‘Piki’ over ‘loss of trust’
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