Ayala Corp. president and chief executive Fernando Zobel de Ayala took a temporary medical leave, the company said Monday.
Ayala said in a disclosure to the stock exchange the board in a special meeting on Aug. 14 elected Cezar Consing as acting president and CEO.The company did not provide further details on Zobel de Ayala’s medical condition.
“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. He remains a member of our board but has stepped down as a member of our executive committee and finance committee,” the conglomerate said.
Zobel de Ayala, 62, also stepped down as member of the executive committee and finance committee but would remain a member of the board.
Consing is a director at several Ayala-owned listed firms including Ayala Corp., Bank of the Philippine Islands, Globe Telecom Inc. and ACEN Corp.