Oscar Lopez, 93

MANILA, Philippines — Oscar Lopez, the last surviving sibling in the powerful Lopez business empire triumvirate, which includes Eugenio Lopez Jr. and Manolo Lopez, died Saturday night at the age of 93.

The passing of Lopez, known in the business community as OML, comes just three months after his younger brother Manolo died in January.

This marks a new era in the sprawling Lopez business empire as it means the passing of the second generation Lopez triumvirate – Eugenio Jr., Oscar and Manolo – the sons of Lopez Group founder and patriarch, Eugenio Lopez Sr.

Among the three sons, Eugenio Jr., or Geny, the ABS-CBN chairman who was called Kapitan, was deemed as the heir apparent, but he died in 1999.

North Star

OML took charge and has led the Lopez business group through the decades.

“OML, as he was known to us, led FPH (First Philippine Holdings Group) through its expansion into power generation, industrial estates, construction, and other fields. But his conviction that business must look beyond just the bottom line and consider its impact on society and the environment was years ahead of his time and will be his enduring legacy,” Lopez-owned FPH said in an announcement Sunday morning.

Together with his brothers, Geny and Manolo, OML steered the Lopez ship to greater heights after the family recovered assets they earlier lost during the Marcos dictatorship.

OML himself led FPH and was credited for steering the company from bankruptcy to become one of the country’s biggest conglomerates.

He is credited for the company’s diversification from power distribution to power generation, manufacturing, and property development.

Lopez credo

OML was likewise credited for the so-called Lopez Credo which served as the Lopez Group’s corporate manifesto, reflecting business excellence, corporate governance and corporate social responsibility.

“He was our North Star, the inspiration, and guide for succeeding generations of Lopez Group executives and employees who learned to treasure and practice with him the Group’s distinct core values: a pioneering entrepreneurial spirit, business excellence, unity, nationalism, and social justice,” FPH said.

OML was FPH chairman emeritus from May 2010 to October 2020 and was also the chief strategic officer of FPH.

He was also the chairman emeritus of various companies such as Lopez Holdings Corp., First Gen Corp., Energy Development Corp., First Balfour, First Philippine Industrial Park Inc., First Philippine Electric Corp. and Rockwell Land.

He also held other positions in other Lopez Group Companies. He had been part of the Lopez Group in a directorship and/ or executive capacity for over 20 years.

OML studied at Harvard College and graduated cum laude (Bachelor of Arts) in 1951.

He was conferred the degrees of Doctor of Humanities honoris causa by De La Salle University and Ateneo de Manila University in 2010, and Doctor of Laws honoris causa by the Philippine Women’s University (2009), as well as the University of the Philippines (2012).

He finished his Masters of Public Administration at the Littauer School of Public Administration, also at Harvard, in 1955.

OML’s son, Federico “Piki” Lopez is FPH’s chairman and CEO and has been steering FPH, First Gen Corp. and Energy Development Corp. for the past ten years.

His cousins, fellow third generation Lopezes, are in leadership positions in other Lopez-led companies including Manolo’s sons Martin “Mark” Lopez, who is chairman of ABS-CBN and Miguel “Mike” Lopez, senior vice president and treasurer at Rockwell Land.