JAIME Augusto Zobel de Ayala (JAZA) has stepped down as chairman of Globe Telecom Inc. after 30 years at the helm of the company’s board.
The telco said in a disclosure that Vice Chairman Cezar Consing, president and CEO of Ayala Corp., had been elected as Zobel de Ayala’s replacement during an organizational meeting on Tuesday.
“Mr. Consing succeeds Mr. Jaime Augusto Zobel de Ayala, who has stepped down as chairman and director, after serving as chairman since December 1996 and director since March 1989,” Globe said.
Zobel de Ayala said: “We welcome with pride the appointment of Bong Consing as chairman of Globe Telecom.”
“Bong has long been a valued leader within the Ayala Group and has demonstrated clarity of judgment, discipline in execution and a deep commitment to strengthening the institutions he serves,” he added.
“With his leadership, we are confident Globe will continue to build on its strong foundations and play an even greater role in enabling opportunity, progress and inclusion in the years ahead.”
Globe noted that JAZA was the principal architect behind its transformation from a cable company to the country’s leading mobile network operator.
It said Zobel de Ayala led the merger of Globe-Mackay Cable and Radio Corp. with Clavecilla Radio Corp. and launched partnerships with Singapore’s Singtel. He was also behind the acquisition of Islacom, Bayantel and Vega Telecom, deals that expanded Globe’s reach and services.
“Under JAZA’s stewardship, we underwent a massive network and IT modernization program that ushered in the age of data in Philippine telecommunications and reinvented Globe as the purveyor of the Filipino digital lifestyle,” Globe said.
“The board, together with our management and employees, express our deepest gratitude and utmost respect for JAZA’s undeniable achievements throughout his years of service to the company,” it added.
The telco added that JAZA would continue to support Globe in his capacity as chairman of Asiacom Philippines Inc., the joint venture company of Ayala Corp. and Singtel.
Globe said Consing would be bringing decades of experience in the finance and global markets.
Prior to leading Ayala Corp., he had served as president and CEO of Bank of the Philippine Islands from 2013 to 2021.
Before joining the Ayala Group, Consing spent nearly two decades with JP Morgan, where he held senior leadership roles across Asia-Pacific in investment banking, including serving as president of JP Morgan Securities Asia. He also served as partner and co-head for Asia of The Rohatyn Group.
He currently serves as chairman of ACEN Corp. and as vice chairman of BPI and Ayala Land Inc., in addition to leadership roles across several Ayala Group companies.
Globe shares on Tuesday added P13.00, or 0.79 percent, to P1,653 each while those of Ayala Corp. also rose P0.50, or 0.10 percent, to close at P510.50 apiece. ED PAOLO SALTING
