holding company

December 6, 2010

Hermes, the French luxury products company controlled by descendants of the founder, has moved to set up a holding company to fend off any advances from larger rival LVMH Moet Hennessy Louis Vuitton.

Hermes, the French luxury products company controlled by descendants of the founder, has moved to set up a holding company to fend off any advances from larger rival LVMH Moet Hennessy Louis Vuitton.

Family members met 4 December to set up a holding corporation, which will control more than 50% of the company. The holding company will also have the first right to purchase any of the remaining family-owned shares.

Family chairman announces retirement

June 1, 2010

Oscar Lopez, the family head of the First Philippine Holdings Corp, announced today he is to step down as chairman and CEO of the family holding company, to be replaced by his son.

Oscar Lopez, the family head of the First Philippine Holdings Corp, announced today he is to step down as chairman and CEO of the family holding company, to be replaced by his son.

Lopez (pictured), 79, who led the company for nearly 25 years, said: "I think that the time is right to step down from the CEO-ship of our company." He will however remain involved as the company's chairman emeritus and group chief strategic officer.