MANILA - Ayala Corp. on Thursday announced a leadership transition within the conglomerate, with Jaime Augusto Zobel de Ayala to focus on his role as Chairman, and brother Fernando Zobel de Ayala to assume President and CEO of the group effective April 2021.
Jaime Augusto is currently Chairman and CEO, while Fernando is President and COO of Ayala Corp.
“At Ayala, it is our leaders’ responsibility to nurture talent and plan paths of succession. In this regard, I see myself as no different from our leaders past and present,” said Jaime Augusto Zobel de Ayala.
“It is an honor to continue leading this company with an outstanding and trusted team on our side...Together, we have worked hard to build on the many successes of those who came before us; and are committed to continuing to improve lives and create value for our next generations of colleagues, their families, our broad ecosystem of stakeholders and our country,” said Fernando Zobel de Ayala.
The Zobel brothers will retain all their current positions in the various subsidiary boards within the Ayala Group, the company said.
On Wednesday, the Ayala Group also announced key movements of its top executives.
Ayala Corp's Chief Financial Officer, Jose Teodoro Limcaoco will succeed Cezar Consing as President and CEO of BPI.
Limcaoco's transfer will be effective after the BPI stockholders' meeting scheduled for April 22 next year.
Consing, now outgoing BPI president, will remain as a board director and executive committee member of the bank.
Meanwhile, Globe's concurrent Chief Commercial Officer (CCO) Alberto de Larrazabal will become Ayala Corp's CFO after Limcaoco by the time of AC stockholders' meeting on April 23.
After De Larrazabal's transfer, Globe will move up Maria Louisa Guevarra-Cabreira to the CCO position, from her current post as head for Globe's Commercial Business.