Ayala Corporation announced that Mr. Fernando Zobel de Ayala, with the approval of Board of Directors, has taken a temporary medical leave of absence as Vice-Chairman of the Board and President. He remains a member of Board but has stepped down as member of Executive Committee and Finance Committee. At a special meeting held on August 14, 2022, the Board elected Mr. Cezar P. Consing as Acting President and member of Executive Committee as endorsed by Corporate Governance and Nomination Committee (CGN Committee).

Mr. Consing is a Director at Ayala Corporation, Bank of the Philippine Islands, Globe Telecom Inc. and ACEN Corporation. He has served as a Senior Managing Director of Ayala Corporation and was President and CEO of BPI from 2013 to 2021, and Chairman and President of the Bankers Association of the Philippines from 2019 to 2021. The Board elected Mr. Delfin L. Lazaro as Vice-Chairman of the Executive Committee also as endorsed by the CGN Committee.