Manolo Lopez, business leader, ex-ambassador, 80

MANILA, Philippines — Manuel M. Lopez, one of the stewards of the Lopez family, died on Thursday at the age of 80, his family announced.

Lopez served as chairman and CEO of Lopez Holdings Corp., chairman and CEO of Manila Electric Co. (Meralco) – the power distributor previously owned by the Lopezes – and was former Philippine ambassador to Japan.

Known as “MML” in the business community, Lopez was recognized both for his business acumen and diplomacy.

He served as chairman of Meralco from 2001 and led the power firm during its turbulent years starting in 2008, which were marked by a government takeover through the Government Service Insurance System.

In 2009, the Lopez Group sold their shares in Meralco to the group of businessman Manuel V. Pangilinan. In 2012, the Lopez Group’s share in Meralco dwindled to roughly three percent.

As the Philippine ambassador to Japan during the administration of the late president Benigno Aquino III, Lopez was able to convince many Japanese companies to invest in the country.

He is the younger brother of the late Eugenio “Geny” Lopez Jr., former chairman of ABS-CBN, and First Philippine Holdings Corp. chairman emeritus Oscar Lopez.

He is the father of Martin “Mark” Lopez, chairman of ABS-CBN; Miguel “Mike” Lopez, senior vice president and treasurer of Rockwell Land and Manuel “Beaver” Lopez Jr., director of First Gen Corp.

Lopez also served other roles in the family-owned business empire – as an executive vice president of Benpres Corp. from 1973 to 1986 and of AFISCO Insurance Corp. from 1975 to 1982.

He holds a Bachelor of Science degree in Business Administration from the University of the East and advanced studies in the Financial and Management Development Program from Harvard.

According to the family, the wake will be at The Fifth at Rockwell. A memorial service will be held on Jan. 17.