MANILA, Philippines — Fernando Zobel de Ayala has been appointed as advisor to the board of Ayala Land Inc., marking his return to the Ayala Group after stepping down from all positions in the conglomerate last year.
In a regulatory filing, the Ayala group’s property arm said its directors approved Zobel’s appointment as advisor during a regular board meeting held Wednesday.
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Zobel took a medical leave of absence in August 2022. Weeks later, he stepped down as vice-chairman of the board, president, and chief executive officer of Ayala Corp to focus on his “recovery and health.”
Likewise, he resigned as chairman of Ayala Land, chair and board member of ACEN Corp., co-vice chair and board member of Bank of the Philippine Islands, Globe Telecom, Inc. and Integrated Micro-Electronics Inc.
Zobel also stepped down as a board member at Manila Water Co. Inc.
But he has returned to work in the past weeks. Zobel is heading the corporate governance committee of Pilipinas Shell Petroleum Corp.’s board of directors.