JAZA ends 30-year stint as Globe chair

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April 22, 2026 | 12:00am

MANILA, Philippines — Jaime Augusto Zobel de Ayala, the driving force behind the growth of telco giant Globe Telecom Inc., has stepped down as chairman of the company, marking another leadership change after bringing in a new president last year.

Globe yesterday announced the election of veteran banker Cezar Consing as its new chairman, replacing Zobel who gave up the role after holding it for 30 years.

Zobel served as chairman since 1996 and director since 1989, when the telco industry was still figuring out the digital future.

Zobel led Globe Mackay Cable and Radio Corp.’s merger with Clavecilla Radio System, and also negotiated the telco’s longstanding partnership with Singapore’s Singtel Group. Globe became a larger entity by acquiring Isla Communications Co. Inc., Bayan Telecommunications Inc. and Vega Telecom Inc.

As Globe expanded, Zobel headed efforts to transform its infrastructure base. Eventually, he jumped on opportunities to enter the digital space that would take Globe to new heights.

Under Zobel’s leadership, Globe developed GCash – now the country’s largest e-wallet – and the telco invested in promising startups through Kickstart Ventures Inc. and 917Ventures Inc.

Zobel also endorsed Globe’s foray to establish joint ventures, such as with ST Telemedia Global Data Centers, which would place the telco at the heart of the data center race.

“Globe would not be the institution it is today without JAZA’s vision and belief in what the telco could achieve,” Globe said.

Zobel will retain his capacity as chairman of Asiacom Philippines Inc., the joint venture between Ayala Corp. and Singtel. Consing, for his part, will manage a telco fighting for profit growth in a saturated market.

Zobel’s departure from Globe marks another top-level change for the telco-to-tech provider. Globe brought in a new president, Carl Raymond Cruz in 2025 and new chief finance officer in Juan Carlo Puno in 2024.

Cruz is trying to spin Globe into the country’s most profitable telco, eyeing more revenue flows from digital ventures, particularly GCash.

However, his first year as president ended with Globe sustaining a four-percent decline in profit to P23.26 billion, as the telco posted flat numbers from its main driver, the mobile segment.