The conglomerate states that Fernando Zobel de Ayala’s resignation as president and CEO of Ayala Corporation will enable him to focus on his quick recovery and health.
MANILA, PHILIPPINES — On Monday, September 12, Fernando Zobel de Ayala resigned from his positions as president, vice chairman of the board, and CEO of Ayala Corporation.
In a Monday disclosure to the Philippine Stock Exchange, Ayala Corporation said Zobel’s resignation would encourage him to focus more on his health conditions.
“Mr. Zobel de Ayala tendered his resignation from our Board and from the positions as mentioned earlier effective immediately to allow him to focus more on his recovery and health,” the filing read.
He has been absent due to a medical leave since August 15. Zobel’s medical leave was not given a particular reason.
The board of Ayala Corporation “will elect his replacement as director in due time,” as per Monday’s disclosure.
When Zobel had to take a medical leave, the acting President and CEO of Ayala Corporation was Cezar Consing, according to Ayala Corporation’s corporate secretary Solomon Hermasura.
As Fernando’s brother, Jaime Augusto Zobel de Ayala, focused on his role as conglomerate chairman.
Fernando Zobel de Ayala, 62, succeeded and took control of the group’s top positions on April 23, 2021, serving as president since 2006.
The Ayala Group of Companies primarily operates in various sectors, including outsourcing, telecommunications, water, industrial technologies, power, real estate and hotels, financial services, and insurance. –WhatALife!/Brix