MANILA - Businessman Fernando Zobel de Ayala has been appointed advisor to the Board of Ayala Land Inc after stepping down earlier due to medical reasons.
ALI is the property arm of Ayala Corp.
Zobel de Ayala was previously Chairman of the board, a position he held for 23 years, ALI said in a disclosure to the stock exchange.
"Our Board appointed Mr. Fernando Zobel de Ayala as advisor to the Board," the statement said.
In August last year, he took a medical leave as Vice-Chairman of the Board and President and Chief Executive Officer (CEO) of Ayala Corp and as ALI's chairman of the board.
The following month, in September, the conglomerate announced his resignation to focus on his health.