The Zobel de Ayala 8th Generation Transition

By Prof. Enrique Soriano

“True legacy is not defined by your power when present, but by their strength when you are no longer leading.”

One of the most thoughtful demonstrations of deliberate succession and institutional continuity can be found in the evolution of leadership at Ayala Corporation, a seventh-generation conglomerate with over 190 years of history.

Under the leadership of Jaime Augusto Zobel de Ayala (JAZA) and Fernando Zobel de Ayala, the Ayala Group became a model of corporate governance, stewardship, and social responsibility. But what is most compelling is how they prepared for leadership succession beyond themselves—not just once, but twice.

In 2021, JAZA formally stepped down as CEO, transferring executive power to Fernando, while assuming the role of Chairman—a calculated handover designed to create clarity for stakeholders. Then, in a further transition in 2022, the brothers initiated a shift toward professional, non-family leadership, appointing Cezar Consing as CEO of Ayala Corporation. This move affirmed a long-standing Ayala philosophy: that the best person for the role—family or not—should lead.

But this was not a retreat from family involvement. It was a strategic repositioning. While the seventh generation moved into stewardship roles, the eighth generation quietly began taking their place—not through entitlement, but through preparation and earned trust.

Today, Mariana serves as Executive Director of Ayala Corporation and Senior Vice President at Ayala Land, Inc., overseeing key divisions such as Ayala Malls, Ayala Land Offices, and Ayala Land Hotels & Resorts. Her leadership has been instrumental in advancing the company’s leasing and hospitality sectors.

Her brother, Jaime Alfonso, leads AC Mobility (formerly AC Motors), the Ayala Group’s mobility platform encompassing automotive distribution, dealership,  and electric vehicle infrastructure. He also serves as a board director at Globe Telecom, ACEN Corporation, AC Industrials, Isuzu Philippines, and BPI Capital Corporation, among others.

This dual-layer transition—from JAZA and Fernando to professional leadership, and from there to the emergence of the 8th generation—exemplifies the principle of surrendering control while strengthening continuity.

In Ayala’s case, legacy is not frozen in the founder. It is forged in the future—across generations.

As the leader, when will you Step Back?

This year, you must start the process. It is time to:

• Formalize titles and transitions—not in secret, but publicly, with dignity and clarity.
• Let your successors make hard calls—even if you would choose differently.
• Be available for counsel, not command.

Your role now is to become the voice in the next room—the one they may visit for wisdom, but not one they fear will override them. Let your presence become a shadow of strength, not a weight of control.

Governance: The Guardian of Values

Without your direct leadership, what remains to protect the mission? Governance.

This is the summer to audit your legacy architecture:

• Review the Board of Directors: Is it functional or ceremonial?
• Assess the Family Council: Does it resolve tensions or escalate them?
• Revisit the Family Constitution and Shareholder Agreements: Are they respected? Still relevant?

Governance is not a one-time installation. It must evolve alongside new leaders. Personalities change. Governance ensures shared purpose endures.

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The W+B Family Governance Leadership Masterclass: Securing Your Legacy for Generations

Navigating the complexities of family businesses goes beyond managing profits and growth—it demands a deep understanding of family dynamics, succession planning, and governance to ensure stability across generations. Conflicting visions, unresolved tensions, and leadership transitions can make this journey feel like walking a tightrope without a safety net.

In response to the growing need for clarity and direction among family-owned businesses, the W+B Family Governance Leadership Masterclass returns for its second edition. Instead of May, the new schedules will be July 9 and 12 with graduations in Cebu, Manila, and Iloilo. This immersive three-day program is designed to help participants uncover tailored solutions to their most pressing challenges while equipping them with the knowledge and skills essential for long-term success. Through a combination of virtual sessions and an in-person graduation event, this Masterclass will guide participants in:

• Unraveling the fundamentals of family business governance
  • Developing strategies for fostering a harmonious family culture
  • Mastering succession planning and leadership development

Take the first step in securing your family business legacy. Limited slots available—reserve your place now at 09173247216 or email service@wbadvisoryasia.com. Look for Julia to get started!