Bilyonaryo Fernando Zobel de Ayala has gone on temporary medical leave as vice-chairman, president and CEO of his family’s holding firm.
Ayala Corp. (AC) did not indicate why the 62-year old Zobel had to step away from his corporate duties.
The AC board met Sunday, August 14, to elect former Bank of the Philippine Islands president Cezar P. Consing as acting president, CEO and member of its executive committee.
“He (Zobel) remains a member of our board but has stepped down as member of our executive committee and finance committee,” said AC in a disclosure.
Former Energy Secretary Delfin L. Lazaro was elected vice-chairman of the executive committee.
Zobel took over the helm of AC two years ago from his older brother, Jaime Augusto, who stayed on as chairman.