Fernando Zobel de Ayala resigns from all posts in Ayala Group

Fernando Zobel de Ayala, who has been on a medical leave of absence since mid-August, filed his resignation from all his posts in the Ayala Group to focus on his health.

Ayala Corp., Bank of the Philippine Islands, Ayala Land Inc., and Globe Telecom Inc. made the announcement on Monday in separate disclosures.

Zobel de Ayala resigned as chair and member of ACEN Corp. and Ayala Land boards of directors; as a member and co-vice chair of Globe Telecom, and as member of Ayala Corp., Bank of the Philippine Islands, and Integrated Micro-Electronics Inc. boards.

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“Please be informed that Mr. Zobel de Ayala 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,” the parent firm said.

The “board will elect his replacement as director in due course,” it added.

Cezar P. Consing has been serving as the acting president and CEO of the Ayala Corp.’s board since Aug. 15 when Zobel de Ayala took a medical leave of absence.

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The article was originally published in Inquirer.NET and written by Tyrone Jasper C. Piad.

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