Ayala Corp., the country’s oldest conglomerate, on Monday announced a temporary change in leadership as its highest official has taken a temporary medical leave of absence.
In a regulatory filing, Ayala Corp. said Fernando Zobel de Ayala took a medical leave of absence as vice-chairman of the board and president and chief executive officer.
“He remains a member of our board but has stepped down as member of our Executive Committee and Finance Committee,” it said, but did not elaborate.
Zobel de Ayala took over the top position effective April 23, 2021, as his brother Jaime Augusto Zobel de Ayala focused on his role as chairman of the conglomerate.
The board also elected Cezar Consing as acting president and chief executive officer during a special meeting held on Sunday, August 14, as endorsed by the Corporate Governance and Nomination (CGN) Committee.
Consing serves as a director at Ayala Corp., ACEN Corp., Globe Telecom Inc., and the Bank of the Philippine Islands where he served as president and CEO from 2013 to 2021.
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. — RSJ, GMA News
Fernando Zobel de Ayala takes medical leave from Ayala Corp.
Source: News Panda Philippines
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