Ayala Corporation at its board meeting held on December 3, 2020 approved the resignation of Mr. Xavier P. Loinaz from the Board as lead independent director due to health reasons. Upon the endorsement of Corporate Governance and Nomination Committee, the remaining members of Board, still constituting a quorum, elected Mr. Cezar P. Consing as director of the Corporation to serve the unexpired term of Mr. Loinaz. Election of Mr. Antonio Jose U. Periquet as lead independent director as endorsed by Corporate Governance and Nomination Committee. Changes in the composition of the Board Committees, also upon the endorsement of Corporate Governance and Nomination Committee, which consist of: the election of Ms. Rizalina G. Mantaring as Chairman of the Audit Committee vice Mr. Xavier P. Loinaz; the election of Mr. Antonio Jose U. Periquet as new member of the Audit Committee vice Mr. Xavier P. Loinaz, and as new Chairman of the Corporate Governance and Nomination Committee vice Ms. Rizalina G. Mantaring;
the election of Mr. Keiichi Matsunaga as new member of the Corporate Governance and Nomination Committee vice Mr. Xavier P. Loinaz; and
the election of Mr. Cezar P. Consing as an additional member of the Finance Committee. Cezar P. Consing, Filipino, 61, is a Senior Managing Director of Ayala Corporation and has been a member of the Ayala Group Management Committee since April 2013. He has been the President and CEO of BPI,
one of the Ayala Group's publicly listed companies, since April 2013.
Ayala Corporation is a Philippines-based holding company. The Companyâs business activities are divided into real estate and hotels, financial services, telecommunications, water, infrastructure, industrial technologies and automotives, power, healthcare, business process, outsourcing, air charter, consulting services, investment holdings, agriculture, and technology services. Its business units include Parent Company, Real estate and hotels, Financial services and insurance, Telecommunications, Industrial Technologies, Power, and Automotive and Others. Real estate and hotels business unit is engaged in planning and development of fully integrated mixed-used communities. Financial services and insurance business unit is engaged in commercial banking operations with expanded banking license. Telecommunications business unit provider of digital wireless communications services, domestic and international long distance communication services or carrier services, and others.
AYALA CORPORATION 
