AYALA LAND, Inc. (ALI) has appointed Anna Ma. Margarita “Meean” B. Dy as the listed property developer’s new president and chief executive after the retirement of her predecessor.
In a stock exchange disclosure on Tuesday, ALI said Ms. Dy had been elected by the board during a special meeting. The move is set to take effect on Oct. 1.
In a separate statement, the company said that Ms. Dy is the company’s first female chief executive officer (CEO), replacing Bernard Vincent O. Dy who retired after being with the company for 26 years, nine of which as president and CEO.
Mr. Dy will become senior advisor to ALI Chairman Jaime Augusto Zobel de Ayala starting Oct. 1.
Ms. Dy has since been included in the regular meetings of the Ayala group’s management committee and has been involved in key decisions since her appointment as ALI’s executive vice-president and chief operating officer.
“As Ayala practices deliberate and effective succession planning across its business units, next-generation leaders are given exposure to the entire Ayala ecosystem,” ALI said.
In a letter sent to employees, Mr. Zobel expressed his trust and confidence in ALI’s newly appointed president.
“Meean’s extensive experience encompasses pivotal leadership roles within the Strategic Landbank Management Group. She played a key role in launching critical projects in our portfolio, such as BGC, Nuvali, Vertis, and Arca South. Her journey continued as she led the Residential Business Group and, more recently, assumed leadership over the Malls, Offices, and the Hotels and Resorts Group,” Mr. Zobel said.
“With Meean at the helm, I am confident that Ayala Land will continue to have meaningful impact in all the lives and communities we touch,” he added.
According to ALI, Ms. Dy graduated magna cum laude from Ateneo De Manila University’s Economics Honors Program in 1990. She earned her Master’s degree in Economics from the London School of Economics and Political Science in 1991, and her Master of Business Administration at Harvard Graduate School of Business Administration in 1996.
Meanwhile, Mr. Zobel said the outgoing Mr. Dy helped ALI maintain a strong balance sheet that allowed the company to recover from the challenges brought about by the pandemic.
“During the pandemic years, Bobby guaranteed the health and safety of our employees, and supported our merchants, suppliers, and the local communities we operated in. He was at the forefront of our sustainability initiatives as he boldly implemented a five-year plan to achieve carbon neutrality for our commercial properties, which we achieved one year ahead of the target,” Mr. Zobel said.
On Tuesday, shares of ALI at the local market closed unchanged at P28.60 each. — Revin Mikhael D. Ochave