(UPDATE) Fernando Zobel de Ayala is on "temporary medical leave" as president and chief executive officer of Ayala Corp, the company announced Monday.
In a stock exchange disclosure, Ayala Corp said the 62-year-old has taken a temporary medical leave of absence as vice-chairman of the board too. The conglomerate did not detail the reason.
"He remains a member of our Board but has stepped down as member of our Executive Committee and Finance Committee," Ayala Corp said.
Ayala Corp Director Cezar Consing, who served as BPI president from 2013 to 2021, has been elected as acting president and CEO of the conglomerate's board following Zobel's leave.
Globe Telecom Director Delfin Lazaro meanwhile was elected as vice-chairman of the executive committee of Ayala Corp.
Ayala Corp Chairman Jaime Zobel de Ayala assured the public that his brother Fernando is "in high spirits" as he called for support for Consing and Lazaro.
"I want to assure everyone that Fernando is in high spirits, but he has asked for some time to focus on his health and recovery. We all have so many responsibilities and commitments in all aspects of our lives, but first and foremost, we should all prioritize our health and well-being," Jaime said in a Facebook post.
"As a family, we're fully supportive of Fernando's decision to take a leave so he can do whatever is necessary to rebuild his strength," he added.