Ayala Corp., the oldest conglomerate in the country, said Fernando Zobel de Ayala is on medical leave and has taken a leave of absence as vice chairman of the board, president and CEO.
This was announced during a special meeting on Sunday wherein Ayala said Cezar P. Consing will be acting president, CEO and member of the executive committee.
"Please be informed that Mr. Fernando Zobel de Ayala, with the approval of our Board of Directors, has taken a temporary medical leave of absence as our Vice-Chairman of the Board and President and Chief Executive Officer (CEO)," Ayala Corp told a Philippine Stock Exchange filing on Monday.
The company said he remains a member of the Board but has also stepped down as member of their Executive Committee and Finance Committee.
No other details regarding the medical leave were disclosed.
Consing is a director at Ayala, Bank of the Philippine Islands, Globe Telecom Inc. and ACEN Corp. He has served as a senior managing director of Ayala and was president and CEO of BPI from 2013 to 2021.
Meanwhile, Delfin Lazaro was elected vice-chairman of the Executive Committee.
