Fernando Zobel de Ayala is on "temporary medical leave" as president and chief executive officer of Ayala Corp, the company announced Monday.
In a stock exchange disclosure, Ayala Corp said the 62-year-old has taken a temporary medical leave of absence as vice-chairman of the board too. The conglomerate did not detail the reason.
"He remains a member of our Board but has stepped down as member of our Executive Committee and Finance Committee," Ayala Corp said.
Ayala Corp Director Cezar Consing, who served as BPI president from 2013 to 2021, has been elected as acting president and CEO of the conglomerate's board following Zobel's leave.
Globe Telecom Director Delfin Lazaro meanwhile was elected as vice-chairman of the executive committee of Ayala Corp.
The younger of the Zobel brothers assumed the CEO post of the 188-year-old conglomerate last year after the elder Jaime Zobel de Ayala relinquished it.
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