JAZA named ICD honorary fellow

MANILA, Philippines — Ayala Corp. chairman Jaime Augusto Zobel de Ayala (JAZA) received the highest conferment from the Institute of Corporate Directors (ICD), having been inducted as honorary fellow.

ICD recognized Zobel for his “lifelong commitment to promoting the highest standards of governance among Philippine corporations.”

“JAZA has shown the light to all the governance principles with their associated best practices demanded by the imperative of attaining the aspirations of Filipinos under Dream Philippines by 2040...,” said Jesus Estanislao, ICD founder and chairman emeritus.

The honorary fellow is the highest conferment that the ICD gives and it is bestowed by the ICD board to distinguished personalities, in recognition of their significant contributions to corporate governance advocacy.

Zobel is joined by Antonino Aquino, former president and CEO of Ayala Land as honorary fellow. Aquino has been a director of ALI since April 2009 and Manila Water Co. since 1998.

The three other ICD honorary fellows are Jose Cuisia Jr., Cesar Saldaña, and former Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr.

In his remarks, Zobel, who stepped down as Ayala CEO in April 2021, vowed to continue implementing and promoting the highest standard of governance across the Ayala Group.

“I believe that corporate directors and the boards are in the forefront of this campaign for an improved system. Corporate directors have tremendous power to reshape the capitalist system through their companies. And I believe that we currently have a golden opportunity here in the Philippines to accelerate this movement,” he said.

Zobel cited the success of Ayala Land in expanding its product lines from mainly luxury offerings to a more diverse residential portfolio and more sustainable mixed-use and tourism districts.