We are Keen to Build the Philippines of the Future

No company, big or small, is immune to change, and the best, most resilient ones know how to pivot and adjust when the unexpected happens.

Ayala Corporation (AC), the country’s oldest continually existing company, has been a stalwart of the Philippine economy for nearly 200 years. Founded during a time when national hero Jose Rizal was still alive, today it has a diverse portfolio of business interests, many of which touch the lives of ordinary Filipinos on a daily business.

After relatively smooth leadership transitions over the decades within the Zobel De Ayala family, the company faced an unusual situation in August this year when then-president and CEO Fernando Zobel De Ayala announced that he was stepping down from his position because of health concerns. That propelled the company’s board of directors—which includes Fernando’s immediate predecessor, his brother, Ayala Corp. Chairman Jaime Augusto Zobel De Ayala—to name a successor.

That person ended up being Cezar “Bong” Consing. A career official and a member of the board of several publicly listed Ayala companies, Consing was a logical choice to take on the challenge of running the vast conglomerate. He is also the first person who is not a member of the Zobel De Ayala family to become the company’s president and CEO in its history.

For the first time since his appointment, Consing, who had announced his retirement after serving as president and CEO of Ayala-owned Bank of the Philippine Islands (BPI) in 2021, sits down to talk about his unexpected return to corporate life. In this wide-ranging interview, he discusses why he thought he was wrong for the job of being the head honcho of AC, what he brings to the table as the first non-Ayala to head the family business, and what he thinks the company’s secret is for lasting as long as it has.