Ayala Corp. president and chief executive Fernando Zobel de Ayala resigned from all his positions in the conglomerate and other listed firms, less than a month after taking a temporary medical leave of absence.
Ayala said in a disclosure to the stock exchange Monday Zobel de Ayala resigned as vice chairman of the board, president and chief executive of the company effectively immediately “ to allow him to focus more on his recovery and health”.
The conglomerate’s other listed companies–Ayala Land Inc., Bank of the Philippine Islands, ACEN Corp. and Globe Telecom Inc.—also disclosed Zobel de Ayala’s resignation from his posts in these subsidiaries.
Ayala earlier reported that it elected Cezar Consing as acting president and chief executive following the medical leave of Zobel de Ayala on Aug 15.
Zobel de Ayala, 62, also sits as chairman of ALI and ACEN, co-vice chairman of Globe and director of BPI.
ALI, ACEN and BPI said Zobel de Ayala’s replacement would be announced in due course.
