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Fernando Zobel de Ayala rejoining some company boards

FERNANDO Zobel de Ayala is set to rejoin selected boards of Ayala companies a few months after his resignation as vice-chairman, president and chief executive officer of Ayala Corp.

On Wednesday, property developer Ayala Land, Inc. (ALI) announced that its board of directors had appointed Mr. Zobel as an advisor to the board.

“Mr. Zobel will rejoin selected boards in the same capacity as he has opted for a phased return,” a representative of the Ayala group’s communications team said.

He was chairman of ALI’s board of directors for 23 years.

With the new assignment, Mr. Zobel is now an advisor to Ayala Corp. and ALI, while working as co-chairman of the Ayala Foundation’s board, and vice-chairman and director of Fort Bonifacio Development Corp.

“He also sits as chairman and vice-chairman in several other joint venture companies of the Ayala Group,” the company said.

At the beginning of February, Pilipinas Shell Petroleum Corp. announced the return of Mr. Zobel as chairman of the company’s corporate governance committee.

In August 2022, he filed for a temporary medical leave of absence, which was followed by his resignation in September 2022 from his posts in ALI, ACEN Corp., Globe Telecom, Inc., Bank of the Philippine Islands, Integrated Micro-Electronics, Inc, and Manila Water Co., Inc. — Justine Irish D. Tabile

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