Globe Telecom Inc., the telecom and financial technology business of the Ayala Group, has announced the appointment of Carl Raymond R. Cruz as its new president and chief executive officer, effective from January 1, 2025.
Cruz, who was also nominated to Globe’s board, will serve as deputy CEO until his official appointment at the organizational meeting of the Board of Directors following the annual stockholders meeting of the listed company.
The 54-year-old Cruz will replace Ernest Cu, currently executive director, president and CEO of Globe. Cu joined Globe in 2008 after 11 years as president and CEO of SPi Technologies and was appointed president and CEO in April 2009. It was during his watch that Globe transformed into the country’s largest financial technology company, particularly with its GCash brand.
Cu, who will continue as president and CEO until the 2025 stockholders meeting, will keep his chairmanship roles for 917Ventures, Globe Fintech Innovations Inc. (Mynt)—the holding company for GCash, Kickstart Ventures Inc., and STT GDC Philippines.
Meanwhile, Cruz brings to Globe over three decades of experience in the fast-moving consumer goods industry, with a strong background in general management and marketing. He currently serves as the CEO and managing director of Airtel Nigeria, one of Airtel’s largest operations in Africa. His previous roles include managing director of Unilever West Africa and CEO of Unilever Nigeria, where he led operations across Nigeria, Ghana, and Francophone Africa.
Throughout his career at Unilever, Cruz held various leadership positions in several countries, including the Philippines, India, Thailand, Sri Lanka, and West Africa. He is recognized for his expertise in leading and transforming organizations in developing and emerging markets.
Cruz holds a Bachelor of Science in Marketing Management from De La Salle University. As he transitions into his new role, he will report to Cu.
