Jaza vacates head seat at Globe board
Jaime Augusto Zobel de Ayala is no longer chair of Globe Telecom Inc., stepping down after 30 years that saw the company’s transition from a cable operator to a digital-first telecommunications giant.
Globe announced the leadership change in a disclosure to the stock exchange on Tuesday.
Succeeding him is Ayala Group veteran Cezar “Bong” Consing. He was elected chair during the board’s April 21 organizational meeting. This was held immediately after Globe’s annual stockholders’ meeting.
Globe did not say why Zobel, popularly known as “Jaza,” had stepped down.
But the firm hailed the tycoon as “the principal architect of Globe’s evolution from a cable company into the country’s first digital telco and today’s leading mobile network operator.”
“Globe would not be the institution it is today without Jaza’s vision and belief in what Globe could achieve,” the company said.
“Under Jaza’s stewardship, Globe 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.”
Zobel’s departure also cleared the way for his son, Jaime Alfonso, to assume the role of co-vice chair, previously held by Consing.
Before this, the younger Zobel served as a non-executive director.
Jaza had been Globe chair since 1996 and a board member since 1989, or for 37 years.
During that period, Globe executed a series of moves that became crucial to its growth—the merger of Globe-Mackay with Clavecilla Radio Corp.; the long-term partnership with Singapore Telecommunications Ltd.; and acquisitions of IslaCom, Bayantel and Vega Telecom.
Globe also credited Zobel for the success of related businesses that include GCash as well as venture and infrastructure plays such as Kickstart Ventures, 917Ventures and ST Telemedia Global Data Centers.
Still, Zobel will remain involved in Globe through Asiacom Philippines Inc., the joint venture between Ayala Corp. and Singtel that holds a major stake in Globe.
“The board, together with the management and employees of Globe, express their deepest gratitude and utmost respect for Jaza’s undeniable achievements throughout his years of service to the company,” Globe said.
Consing will juggle the role at Globe with his existing ones such as president and CEO of Ayala Corp., vice chair of Ayala Land Inc., and vice chair of Bank of the Philippine Islands.
Zobel remains as chair of these companies.
Zobel expressed confidence in the transition.
