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Manila Bulletin devider Business devider Fernando Zobel resigns from Ayala Group companies

Fernando Zobel resigns from Ayala Group companies

Published Sep 12, 2022 01:28 pm

Members of the Ayala Group of Companies announced the resignation of Fernando Zobel de Ayala from various leadership positions in the company less than a month after he suddenly took a temporary medical leave of absence for an undisclosed illness.

In separate but similarly-worded disclosures to the Philippine Stock Exchange, Zobel’s resignation was announced by conglomerate Ayala Corporation and its public subsidiaries Ayala Land Inc., Bank of the Philippine Islands, Globe Telecom, ACEN Corporation, and Integrated Micro-electronics Inc. (IMI).

Ayala Corp. President and CEO Fernando Zobel de Ayala

Ayala Corp. said “Mr. Zobel tendered today his resignation from our Board and from the aforementioned positions effective immediately to allow him to focus more on his recovery and health. Our Board will elect his replacement as director in due course. ”

Zobel resigned as Vice-Chairman of AC’s Board of Directors and President & Chief Executive Officer, as Co-Vice Chairman of Globe’s Board, as Chairman of ALI’s Board, as member of BPI’s Board, as Chairman of ACEN’s Board of Directors, and as Director of IMI’s Board.

AC disclosed on August 15, 2022, that its Board has elected Cezar P. Consing as its Acting President and CEO following the medical leave of absence of Zobel.

AYALA CORP. CHAIRMAN JAIME AUGUSTO ZOBEL DE AYALA

In a social media post following that announcement in August, AC Chairman Jaime Augusto Zobel de Ayala (JAZA) said “I want to assure everyone that Fernando is in high spirits, but he has asked for some time to focus on his health and recovery.”

“We all have so many responsibilities and commitments in all aspects of our lives, but first and foremost, we should all prioritize our health and well-being,” he added.

JAZA noted that, “As a family, we're fully supportive of Fernando's decision to take a leave so he can do whatever is necessary to rebuild his strength. Let us all give Fernando the support he needs to focus on improving his health.”

Aside from his posts in the previously mention companies, Zobel is also the Chairman of Manila Water Company, Inc., Ayala Retirement Fund Holdings, Inc., AC Industrial Technology Holdings, Inc., AC Ventures Holding Corp., AC Infrastructure Holdings Corporation, and Asiacom Philippines, Inc.; Co-Chairman of Ayala Foundation, Inc. and Ayala Group Club, Inc.; Director of Alabang Commercial Corporation, Ayala International Pte. Ltd., AAyala Healthcare Holdings, Inc., Light Rail Manila Holdings, Inc. and AG Holdings Ltd.

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Ayala Corporation Globe Telecom
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