Fernando Zobel de Ayala has resigned from the Ayala Corp Board of Directors effective Monday, the company said, citing "health reasons".
The 62-year-old, who took a temporary medical leave in August, vacates his post as vice chairman of the Ayala Corp Board of Directors, and as president and chief executive officer.
In a stock exchange disclosure, Ayala Corp said the resignation is meant to allow the younger of the Zobel brothers to "focus more on his recovery and health."
"Our Board will elect his replacement as director in due course," Ayala Corp said.
Ayala Corp Director Cezar Consing, who served as BPI president from 2013 to 2021, has been serving as acting president and CEO of the conglomerate's board following Zobel's leave in August.
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