Business tycoon Fernando Zobel de Ayala has resigned from his post as Ayala Corp. president, CEO and vice chairman of the board to “allow him to focus more on his recovery and health,” according to a disclosure that the conglomerate made to the Philippine Stock Exchange today.
The 62 year-old businessman, who filed for a medical leave last Aug. 15, also stepped down from his post as board member of the Bank of the Philippine Islands, Globe Telecom, Ayala Land, ACEN and Integrated Micro-Electronics. In line with this development, Cezar Consing will continue to serve as Ayala Corp.’s acting president and CEO, while Fernando’s older brother, Jaime Augusto Zobel de Ayala, will remain chairman of the board.
Earlier this year, Zobel de Ayala sounded slightly nostalgic as he shared his optimism with members of the press and mall partners in an exclusive event in Seda Lio Hotel, one of the Ayala Group’s properties in El Nido Palawan. “I have taken great interest in what has happened in the mall’s group and the transitions we have to make and we haven’t fully made yet… We hope that during COVID, you [our stakeholders] felt that we were better partners than we were in the past,” he said. — By Jose Paolo dela Cruz
