Fernando Zobel de Ayala steps down from top Ayala Group positions to focus on health

Fernando Zobel de Ayala has resigned from his position in Ayala Corp. and from other companies under the group to focus on his health and recovery.

In a regulatory filing to the local bourse, Ayala Corp. said Zobel de Ayala resigned as president, chief executive officer, and vice-chairman of the company effective immediately.

“Mr. Zobel de Ayala tendered his resignation from our Board and from the aforementioned positions effective immediately to allow him to focus more on his recovery and health,” the filing read.

Cezar Consing was elected as the conglomerate’s acting president and chief executive officer when Zobel de Ayala earlier took a medical leave of absence. The board is set to elect a replacement as director moving forward.

Zobel de Ayala also resigned as chairman of Ayala Land Inc. and ACEN Corp.; vice-chairman of the Bank of the Philippine Islands; co-vice chairman of Globe Telecom Inc.; and the director of Integrated Microelectronics Inc. (IMI).

He took a medical leave of absence in August, to focus on his health.

Zobel de Ayala took over the group’s top positions in April 23, 2021, as his brother Jaime Augusto Zobel de Ayala focused on his role as chairman of the conglomerate.

The Ayala Group of Companies has principal business interests in real estate and hotels; financial services and insurance; telecommunications; water; industrial technologies; power; and automotive, outsourcing, among others. —KG, GMA News