Property mogul Fernando Zobel de Ayala, who is currently on medical leave, has officially relinquished all his positions in the Ayala Group of Companies to focus on his health and recovery.
In separate disclosures, Ayala Land Inc. and ACEN said Zobel de Ayala tendered his resignation on Monday as member and chairman of their respective Board of Directors.
"(His resignation will be) effective immediately to allow him to focus more on his recovery and health. His replacement will be elected by our Board in due course," the companies said.
Globe Telecom also disclosed that Zobel de Ayala has stepped down as member and co-vice chairman of the board.
JAZA takes over as board chief
In a related development, Ayala Corp. chairman and Ayala Land vice chairman Jaime Augusto Zobel de Ayala has been elected chairman of Ayala Land's executive committee to take over the unexpired term of his brother.
Jaime earlier said the Ayala family is fully supportive of his brother's decision to prioritize his health.
Cezar "Bong" Consing, on the other hand, will assume as "interim" president and CEO of Ayala Corporation and Delfin Lazaro as vice-chairperson of the executive committee.
Consing is currently a director at Ayala Corporation, Bank of the Philippine Islands, Globe Telecom Inc. and ACEN.
He served as a senior managing director of Ayala Corporation and was president and CEO of BPI from 2013 to 2021.
Lazaro has been a non-executive director of Ayala Corporation since January 2007. He is also a director of Integrated Micro-Electronics Inc. and Globe Telecom Inc. as well as an independent adviser to the Board of directors of Ayala Land Inc., and a member of the BPI Advisory Council.
