Zobel de Ayala brothers to share leading roles in 186-year-old conglomerate

Business tycoon Fernando Zobel de Ayala will assume the role of chief executive officer (CEO) at Ayala Corp. by April 23 next year as part of the succession plan of the country’s oldest business house.

His older brother, Jaime Augusto Zobel de Ayala—known as Jaza in business circles—will henceforth focus on his role as chair of the conglomerate, which has interests in property development, banking, telecommunications, water and industrial segments.
Stockholders’ meeting
The leadership turnover, which was announced on Thursday after getting imprimatur from the board of directors, will happen after the 2021 annual stockholders meeting of Ayala next year. At present, Fernando is Ay…

Keep on reading: Zobel de Ayala brothers to share leading roles in 186-year-old conglomerate

Must Read

Philippine regulator approves emergency use of AstraZeneca vaccine

0
MANILA – The Philippines’ Food and Drug Administration (FDA) has approved the emergency use of AstraZeneca PLC’s COVID-19 vaccine, the second to be approved...