The Jimenez Family

Menardo Jimenez (1932), is considered one of the three fathers of GMA Network, Inc. together with Felipe L. Gozon and Gilberto M. Duavit Sr. They are credited for turning the money-losing Republic Broadcasting System (RBS) of American Robert La Rue Stewart into the million dollar business empire it is today.

Menardo Jimenez is among the Philippines’ 50 richest, with a net worth of $390 million. He sits on the board of food conglomerate San Miguel Corporation. His family also has business interests in real estate, restaurants, banking and insurance, mining, and motor vehicles.

Menardo Jimenez is married to Carolina L. Gozon-Jimenez, the sister of co-founder Felipe L. Gozon. He was the President and Chief Executive Officer of GMA Network, Inc. from 1974 to 2000.

In 1973, when Stewart’s RBS was losing money, he supposedly offered a 30 percent share of RBS to his lawyer, Gozon but as Gozon could only afford 10 percent of the shares, the remaining 20 percent were acquired by Gozon’s brother-in-law Jimenez.

In 1975, Gozon, Jimenez and Duavit Sr. took control of the management of RBS and renamed the station GMA Network. Under their management, the station started its steady rise as the main competitor to the Lopezes’ ABS-CBN Corporation at the top of the Philippine media market.

In 2000, the GMA board elected Gozon as chairman, president and chief executive officer, replacing Jimenez, in a move to shake up management. As part of the process, Gozon’s brother-in-law Jimenez was excluded from top management. In 2010, Gilberto Duavit Jr., Duavit Sr.’s son was elected by the board as the network’s president, taking over the position from Gozon.

In the same year, Menardo Jimenez’s daughter, Laura J. Westfall (1969), was elected Director of GMA Network, Inc., a position she still holds in 2023. Previously, Westfall has held the following positions in the GMA Network, Inc.: Senior Vice President of Corporate and Strategic Planning, Senior Vice President for Finance, and Chairperson and President of GMA New Media.

Two years later, in 2002, Jimenez’s son Joel Marcelo (1964) became a member of GMA’s board. In 2024, Jimenez was elected as chair of the executive committee, with Felipe Gozon as network chairman, and Duavit Jr. as the new CEO.

Menardo Jimenez’ daughter Carmen Jimenez-Ong is the CEO of property outfit Menarco Development that built the Menarco Tower in Manila.

Jimenez is a director of San Miguel Corporation since 2005 where Ramon S. Ang is president and CEO. In 2014, Ang attempted to acquire a minority stake of 30 percent at GMA Network but the deal collapsed and was terminated. Ang filed an estafa complaint against the Gozons for the PhP1 billion downpayment he made for the deal, but Ang later withdrew the complaint.