Fernando Zobel de Ayala returns to Ayala Corp. as director 

FERNANDO Zobel de Ayala has returned to Ayala Corp. as director as part of his gradual return to senior positions in the group after resigning last year for health reasons.

In a regulatory filing, Ayala Corp. said Mr. Zobel is serving the unexpired term of Mercedita S. Nolledo who resigned from the company’s board effective Thursday. She served on the board from 2004 until September 2010 and rejoined on Sept. 27 last year when Mr. Zobel resigned.

The company said Ms. Nolledo resigned in support of Mr. Zobel’s rejoining the board to resume his leadership of our sustainability initiatives, particularly our net zero commitment, which he launched in 2021.

In September 2022, Mr. Zobel resigned as vice-chairman of the board, president, and chief executive officer of Ayala Corp. as it would allow him to focus more on his recovery and health.  

He took a medical leave of absence in August last year. The firm did not disclose further details.  

Ayala Corp. is the listed holding firm for the various businesses under the Ayala group.

Meanwhile, Ayala Corp. said Mr. Zobel will also occupy the other positions vacated by Ms. Nolledo such as the chairman of the sustainability committee, member of the risk management and related party transactions committee, and member of the personnel and compensation committee.

Previously, other Ayala-led companies also disclosed the return of Mr. Zobel to their respective boards such as his election as chairman of Ayala Corp.’s healthcare subsidiary AC Health and as director of the Bank of the Philippine Islands.  

Ayala Corp. logged a 13.2% increase in its first-half attributable net income to P18.41 billion from P16.27 billion a year ago led by its banking, properties, and energy units and a one-off gain from AC Industrial Technology Holdings Inc.

On Thursday, shares of Ayala Corp. at the local bourse jumped P4 or 0.64% to finish at P630 apiece. — Revin Mikhael D. Ochave

Neil Banzuelo

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