Cruz appointed as Globe CEO, sets plan for digital leadership

Carl Raymond Cruz has been appointed as the new president and CEO of Globe Telecom, succeeding Ernest Cu who stepped down after 16 years.

During Tuesday's annual stockholders meeting, Cruz outlined a strategic plan focused on customer-centric innovation and becoming the largest and most profitable telecom firm in the Philippines.

Cruz highlighted Globe's strong mobile and fiber network infrastructure, as well as the dominance of its e-wallet GCash, which is used by 80% of Filipinos.

With Filipinos ranking third globally for daily internet usage at an average of 8 hours and 52 minutes online, Cruz emphasized the company's role in leading digital progress and inclusive growth.

Globe plans to invest heavily in data-related requirements this year to ensure reliable connectivity, with capital expenditures expected to fall below $1 billion for sustainable growth.