This coming 2021, a massive leadership model is underway at the oldest conglomerate in the world. Ayala Corporation stated that Jaime Augusto Zobel de Ayala will leave his position as chief executive in a disclosure to the stock exchange but will stay as company chairman. In view of this Jaime will be succeeded by Fernando Zobel de Ayala, his younger brother, who is currently the president and COO of the group. That means Fernando will be Ayala Corp.’s president and current CEO once the transition is finalized in April 2021.
Despite the leadership’s remodel, the Zobel brothers will maintain their current roles at various branches of the Ayala Group. They shared that they are very fortunate to work with a deep leadership bench, and they are assured that the planned leadership transitions in such a season like this are critical ingredients for sustainable success.
For the 186-year-old conglomerate left unharmed by the coronavirus pandemic attack, the leadership reshuffle would come at a challenging time. The Ayala Corporation even announce a net income of P11.4 billion in the first 9 months, down 75.37 percent year on year, reeling from lockdowns that limited the mall and property sector of the group.
The report of Ayala Corporation also came one day after its banking arm, So the Bank of the Philippine Islands reported the appointment of Jose Teodoro “TG” Limcaoco as the new president and chief executive that has also been effective next April. In view of this, He will be replacing Cezar “Bong” Consing who has been heading the bank since 2013.
People can see that they worked hard together to build on the many accomplishments of those before them and they are constantly committed to getting enhanced lives and create value for our next generations of colleagues, their families, our large stakeholder ecosystem and our country.