ADVERTISEMENT
Manila Bulletin devider Business devider The Stock Market devider Fernando Zobel rejoins Ayala board, replaces Nolledo

Fernando Zobel rejoins Ayala board, replaces Nolledo

Published Sep 28, 2023 08:08 am

After a brief hiatus for health reasons, 62-year-old magnate Fernando Zobel de Ayala has been re-elected as a Board Director of Ayala Corporation—his third re-election into the boards of firms in the Ayala Group after Bank of the Philippine Islands and AC Health.

Fernando Zobel de Ayala.jpg
Newly-elected Ayala Corp. Director Fernando Zobel de Ayala

In a statement, the conglomerate said Zobel is replacing highly trusted adviser Mercedita S. Nolledo and has been appointed Chairman of the Sustainability Committee and member of the Risk Management and Related Party Transactions Committee and the Personnel & Compensation Committee.

"I look forward to working with the Board, the senior management of Ayala Corporation, and our Chief Sustainability Officer Jaime Z. Urquijo in providing oversight and guidance on the company's ESG strategy," he said.

Zobel previously served as Ayala Corporation’s President and CEO (April 2021 to September 2022) and Board Director (May 1994 to September 2022).

During his term as CEO, Zobel took the lead in strengthening Ayala's sustainability commitment. 

In 2021, Ayala committed to achieve net zero greenhouse gas emissions by 2050, becoming the first publicly listed company in the Philippines to make such a commitment.

Ayala CEZAR CONSING.jpg
Ayala Corp. President and CEO Cezar Consing

“The Ayala community welcomes Fernando back to the Board of Ayala Corporation,” said Ayala Corporation President and CEO Cezar Consing who had taken over Zobel’s post. 

He noted that, “Fernando brings with him a wealth of experience, and we look forward to his guidance and oversight as we continue to ramp up our ESG initiatives.”      

Ayala Corporation's Board of Directors elected Consing, former BPI CEO and one of Asia’s most respected bankers, as the company's president and CEO in September 2022. 

He was re-elected as president and CEO during the board’s organizational meeting after the company’s Annual Stockholders Meeting last April 2023. 

JAZA inducted as Honory Fellow by ICD
Ayala Corp. Chairman Jaime Augusto Zobel de Ayala

Meanwhile, Ayala Corporation Chairman Jaime Augusto Zobel de Ayala thanked 82-year-old Nolledo for her contributions during her tenure as Board Director (September 2022 to September 2023). 

"I would like to thank Edith Nolledo for her consistent support and guidance through the many years she worked with the Ayala group as an executive and a member of the Board," he said. 

Mercedita Nolledo.jpeg
Ayala Foundation Board of Trustees member Mercedita S. Nolledo

Nolledo will focus on her roles in different business units of the Ayala group. She continues to be a member of the Board of Trustees of Ayala Foundation, Inc. and BPI Foundation, Inc. She is also a member of the BPI Advisory Council.

Since late 2022, Zobel has transitioned from his executive roles to focus on his governance functions in various boards within the Ayala Group.  

 

Related Tags

Cezar P. Consing JAIME AUGUSTO ZOBEL DE AYALA Fernando Zobel de Ayala Mercedita S. Nolledo Ayala Corporation
ADVERTISEMENT
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1561_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1562_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1563_widget.title }}

{{ item.title }}

{{ articles_filter_1564_widget.title }}

{{ item.title }}
.mb-article-details { position: relative; } .mb-article-details .article-body-preview, .mb-article-details .article-body-summary{ font-size: 17px; line-height: 30px; font-family: "Libre Caslon Text", serif; color: #000; } .mb-article-details .article-body-preview iframe , .mb-article-details .article-body-summary iframe{ width: 100%; margin: auto; } .read-more-background { background: linear-gradient(180deg, color(display-p3 1.000 1.000 1.000 / 0) 13.75%, color(display-p3 1.000 1.000 1.000 / 0.8) 30.79%, color(display-p3 1.000 1.000 1.000) 72.5%); position: absolute; height: 200px; width: 100%; bottom: 0; display: flex; justify-content: center; align-items: center; padding: 0; } .read-more-background a{ color: #000; } .read-more-btn { padding: 17px 45px; font-family: Inter; font-weight: 700; font-size: 18px; line-height: 16px; text-align: center; vertical-align: middle; border: 1px solid black; background-color: white; } .hidden { display: none; }
function initializeAllSwipers() { // Get all hidden inputs with cms_article_id document.querySelectorAll('[id^="cms_article_id_"]').forEach(function (input) { const cmsArticleId = input.value; const articleSelector = '#article-' + cmsArticleId + ' .body_images'; const swiperElement = document.querySelector(articleSelector); if (swiperElement && !swiperElement.classList.contains('swiper-initialized')) { new Swiper(articleSelector, { loop: true, pagination: false, navigation: { nextEl: '#article-' + cmsArticleId + ' .swiper-button-next', prevEl: '#article-' + cmsArticleId + ' .swiper-button-prev', }, }); } }); } setTimeout(initializeAllSwipers, 3000); const intersectionObserver = new IntersectionObserver( (entries) => { entries.forEach((entry) => { if (entry.isIntersecting) { const newUrl = entry.target.getAttribute("data-url"); if (newUrl) { history.pushState(null, null, newUrl); let article = entry.target; // Extract metadata const author = article.querySelector('.author-section').textContent.replace('By', '').trim(); const section = article.querySelector('.section-info ').textContent.replace(' ', ' '); const title = article.querySelector('.article-title h1').textContent; // Parse URL for Chartbeat path format const parsedUrl = new URL(newUrl, window.location.origin); const cleanUrl = parsedUrl.host + parsedUrl.pathname; // Update Chartbeat configuration if (typeof window._sf_async_config !== 'undefined') { window._sf_async_config.path = cleanUrl; window._sf_async_config.sections = section; window._sf_async_config.authors = author; } // Track virtual page view with Chartbeat if (typeof pSUPERFLY !== 'undefined' && typeof pSUPERFLY.virtualPage === 'function') { try { pSUPERFLY.virtualPage({ path: cleanUrl, title: title, sections: section, authors: author }); } catch (error) { console.error('ping error', error); } } // Optional: Update document title if (title && title !== document.title) { document.title = title; } } } }); }, { threshold: 0.1 } ); function showArticleBody(button) { const article = button.closest("article"); const summary = article.querySelector(".article-body-summary"); const body = article.querySelector(".article-body-preview"); const readMoreSection = article.querySelector(".read-more-background"); // Hide summary and read-more section summary.style.display = "none"; readMoreSection.style.display = "none"; // Show the full article body body.classList.remove("hidden"); } document.addEventListener("DOMContentLoaded", () => { let loadCount = 0; // Track how many times articles are loaded const offset = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]; // Offset values const currentUrl = window.location.pathname.substring(1); let isLoading = false; // Prevent multiple calls if (!currentUrl) { console.log("Current URL is invalid."); return; } const sentinel = document.getElementById("load-more-sentinel"); if (!sentinel) { console.log("Sentinel element not found."); return; } function isSentinelVisible() { const rect = sentinel.getBoundingClientRect(); return ( rect.top < window.innerHeight && rect.bottom >= 0 ); } function onScroll() { if (isLoading) return; if (isSentinelVisible()) { if (loadCount >= offset.length) { console.log("Maximum load attempts reached."); window.removeEventListener("scroll", onScroll); return; } isLoading = true; const currentOffset = offset[loadCount]; window.loadMoreItems().then(() => { let article = document.querySelector('#widget_1690 > div:nth-last-of-type(2) article'); intersectionObserver.observe(article) loadCount++; }).catch(error => { console.error("Error loading more items:", error); }).finally(() => { isLoading = false; }); } } window.addEventListener("scroll", onScroll); });
Join Our Newsletters

Sign up by email to receive news.

© 2025 Manila Bulletin The Nation's Leading Newspaper. All Rights Reserved.