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MANILA, Philippines – Fernando Zobel de Ayala, the president, chief executive officer, and vice chairman of the board of Ayala Corporation, took a medical leave of absence starting Monday, August 15.
Ayala Corporation disclosed the development to the Philippine Stock Exchange on Monday, adding that Zobel remains a member of the conglomerate’s board but has stepped down as member of its executive committee and finance committee.
The reason for his medical leave was not cited in the disclosure.
Zobel’s brother, Ayala Corporation chairman Jaime Augusto Zobel de Ayala, said they are “fully supportive of Fernando’s decision to take a leave so he can do whatever is necessary to rebuild his strength.”
“I want to assure everyone that Fernando is in high spirits, but he has asked for some time to focus on his health and recovery,” Jaime Augusto said on his Facebook page on Monday.
“We all have so many responsibilities and commitments in all aspects of our lives, but first and foremost, we should all prioritize our health and well-being.”
Fernando, 62, has served as the conglomerate’s president since 2006. He also took over the CEO role from Jaime Augusto, 63, in April 2021.
Consing as acting CEO
In a special meeting on Sunday, August 14, Ayala Corporation’s board elected Cezar Consing as acting president and CEO as well as executive committee member.
Consing is a director at Ayala Corporation, Bank of the Philippine Islands (BPI), Globe Telecom, and ACEN Corporation.
He previously served as BPI president and CEO from 2013 to 2021.
Also on Sunday, Delfin Lazaro was elected as vice chairman of Ayala Corporation’s executive committee. – Rappler.com