Ayala Corp appoints first non-family CEO, vows to keep conglomerate intact
Ayala Corporation named Cezar Consing, its first outsider CEO, and said it will maintain its diversified structure despite recent profit dips.
When the younger Zobel de Ayala resigned as CEO, chair Jaime Augusto Zobel de Ayala turned to Cezar Consing, a former BPI president, to lead Ayala Corporation, marking the first time a non-family member has held the post. Consing intends to keep the sprawling conglomerate together, emphasizing stricter fiscal targets and higher dividends from its subsidiaries. The group reported a 7% drop in net income for the first half of 2026, with Ayala Land’s profit falling 19% and BPI’s earnings roughly flat.
Yet the firm is expanding into electric-vehicle charging, renewable energy through ACEN, and education partnerships to fill domestic gaps. Consing argues that coordinated synergies across banking, real estate, telecoms and logistics can still generate shareholder value, even as Western peers split up their diversified holdings.
Why it matters
Ayala’s strategy will shape the future of one of Southeast Asia’s biggest diversified groups and affect the Philippine economy.
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