He will be responsible for the editorial direction, as well as all aspects of the channel's news programming and operations.
Pangilinan and other top TV5 bosses are finalizing a deal with the Bloomberg group to form a localized business news channel.
Francisco will stay with the Kapatid Network in his current anchor capacity and will continue to report nightly on 'Aksyon Tonite.'
Earlier this month, TV5 named veteran newsman Ed Lingao as the newscast's new co-anchor.
GMA News will also unveil new roles for Connie Sison and Pia Arcangel beginning November 10.