Ailing Fernando quits key posts

On medical-leave land mogul Fernando Zobel de Ayala has relinquished key positions in Ayala Corp. except for being member of the conglomerate’s board.

Ayala Corp. said its board approved in yesterday’s regular meeting the medical leave of absence of Fernando.

He also resigned as chairperson and member of the executive committee and member of the personnel and compensation committee.

His brother, Jaime Augusto Zobel de Ayala, will serve as acting chairperson during Fernando’s leave of absence, according to the company’s report to the bourse.

Fernando’s replacement in the committees that he left will be appointed in due course, the Ayala Corp. disclosure indicated.

Leave announced

Ayala Corp. announced the previous day that Fernando took a temporary leave as vice-chairperson of the board and president and chief executive officer, stepping down only as a member of the executive and finance committees.

“We support Mr. Zobel’s decision to focus on improving his health and achieving complete recovery,” the company indicated.

The board then announced that Cezar “Bong” P. Consing to 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 Corporation. 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.

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