JAZA is Ayala Land acting chair while brother Fernando Zobel De Ayala is on leave

ABS-CBN News

Posted at Aug 16 2022 06:19 PM | Updated as of Aug 16 2022 06:47 PM

Ayala Corporation Chairman Jaime Zobel De Ayala (righ) is joined by Ayala Corporation President and COO Fernando Zobel De Ayala (left) during the Ayala Corporation Annual Stockholders meeting held at the Fairmont Hotel in Makati on April 26, 2019. Jonathan Cellona, ABS-CBN News/File 
Ayala Corporation Chairman Jaime Zobel De Ayala (righ) is joined by Ayala Corporation President and COO Fernando Zobel De Ayala (left) during the Ayala Corporation Annual Stockholders meeting held at the Fairmont Hotel in Makati on April 26, 2019. Jonathan Cellona, ABS-CBN News/File 


MANILA - Jaime Zobel de Ayala will serve as the acting chairman of Ayala Corp's property arm Ayala Land while his brother and chairman Fernado Zobel De Ayala is taking a medical leave.

The announcement was made in a disclosure to the stock exchange, a day after Ayala Corp said its president and CEO was on a medical leave. 

"Pursuant to our By-Laws, our Vice-Chairman, Mr. Jaime Augusto Zobel de Ayala, will serve as Acting Chairman during the Chairman’s leave of absence," the statement said.

Fernando also stepped down as the chairman and member of the executive committee and member of the Personnel and Compensation Committee. He remains a member of the Board of Directors. 

His replacement for the mentioned committees will be appointed in due course, the company said.

Jaime earlier said the family fully supports his brother's decision to focus on his health. No other details about his condition were disclosed.

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