Fernando to become Ayala Corp. CEO next April

Fernando Zobel de Ayala will become the CEO of Ayala Corp., succeeding his brother Jaime Augusto Zobel de Ayala, who will focus solely on his role as chairman starting April 23, 2021.

The leadership change was approved by the board and will take effect after the company's annual stockholders meeting next year.

Jaime Augusto emphasized the importance of nurturing talent and planning for succession, noting that this move reflects evolving global best practices in corporate governance.