Published December 17, 2020, 3:41 PM
Ayala Corporation revealed more about its succession plan with the announcement that Chairman Jaime Augusto Zobel de Ayala (JAZA) will be giving up his concurrent position as Chief Executive Officer in favor of his brother, Ayala President Fernando Zobel de Ayala (FZA).
In a disclosure to the Philippine Stock Exchange, Ayala said JAZA transition will focus on his role as Chairman of the Board effective April 23, 2021, after the 2021 Annual Stockholders Meeting.
Fernando Zobel de Ayala (left) and Jaime Augusto Zobel de Ayala
Ayala’s Board of Directors has unanimously approved the Company’s CEO Succession Plan whereby President and Chief Operating Officer FZA, will become President and CEO, effective April 23, 2021 after the 2021 Annual Stockholders Meeting.