BUKIDNON, Philippines – As Carl Raymond Cruz takes over as Globe’s president and chief executive officer, he outlined a strategic direction centered on customer centricity and innovation.
Cruz’s appointment to the top post was confirmed during Globe’s annual stockholders meeting on Tuesday, April 22. He replaces Ernest Cu, who stepped down after 16 years with the company.
The new Globe chief said he wants the company to become the largest and most profitable telco firm in the Philippines.
Cruz said his company is in a position to lead the country’s digital progress amid its large digital-native customer base. According to the 2025 Digital Report Study, Filipinos ranked third globally in daily internet usage, averaging 8 hours and 52 minutes online.
“We are focused on inclusive growth by widening access to technology and financial tools that make everyday life better,” he said.
Cruz also touted the Ayala-owned telco’s strong mobile and fiber footprint, while its unicorn e-wallet GCash maintained its dominance as 80% of Filipinos using the platform.
“Backed by purpose, technology, and people, we are building a progressive and inclusive digital nation,” he said.
In 2024, Globe posted an all-time high of P165 million in gross service revenues, despite a 1% dip in its net income. (READ: Globe’s 2024 revenues hit record high as GCash dominates cashless scene)
This year, the majority of Globe’s capital expenditures will fund data-related requirements to ensure reliable connectivity for its customers. The Ayala-owned telco giant earlier said it expects its capex to fall below $1 billion to ensure sustainable growth.
Cruz is also taking over Globe amid rumors of GCash’s imminent initial public offering. – Rappler.com