Bernard Vincent Dy, the incumbent chief operating officer of Ayala Land Inc. (ALI) has been nominated as chief executive for the real estate giant.
The nomination was announced in a disclosure, stating that Dy (pictured) will be succeeding Antonino Aquino who will continue to serve as a director of ALI’s executive committee.
Dy joined ALI in 1997 and has been at the helm of the residential business since 2006. His nomination will be submitted to shareholders for approval on 7 April.
Fernando Zobel de Ayala, chairman of Ayala Land, thanked Aquino for serving the Ayala Group for 34 years, crediting him for achieving key milestones in spite of the global financial crisis.
“His (Aquino’s) tireless energy and unique leadership skills rallied the entire organization and the company to its highest period of growth and profitability in its history,” Zobel adds.
ALI reported a net profit of 11.74 billion pesos ($261 million), up 30% from 2012. In comparison, the company’s net profit was 4.81 billion pesos before Aquino took the helm in 2008.
(Picture from left to right: Antonino Aquino, President and CEO; Bernard Vincent Dy, COO;Vincent Tan, Group Head, Planning; Arturo Corpuz, Group Head, Urban and Regional Planning and Central Land Acquisition)