Ayala Land Inc. (ALI) has boosted its advisory board while its chairman, bilyonaryo Fernando Zobel de Ayala, is on medical leave for an unspecified health condition.
AL has appointed Fernando’s niece, Mariana Zobel de Ayala, and former Bank of the Philippine Islands president and CEO Cezar “Bong” Consing as consultants to its board.
Fernando went on medical leave from ALI last month but remained as chairman of the property giant. Fernando also left his posts in Ayala Corp. and Globe Telecom.
Mariana’s father, ALI vice chairman Jaime Augusto Zobel de Ayala, has stepped up as the firm’s acting chairman.
Jaime is taking over Fernando’s role as chairman of ALI’s executive committee and member of its personnel and compensation committee.