Jaime Augusto Zobel de Ayala Stepping Down as Chairman of Globe and Appointment of Cezar P. Consing as New Chairman

In a landmark transition for one of the country’s leading digital solutions platforms, Jaime Augusto Zobel de Ayala (JAZA) has officially stepped down as Chairman of the Board of Globe Telecom, Inc., passing the torch to Cezar “Bong” P. Consing. Mr. Consing succeeds Mr. Jaime Augusto Zobel de Ayala (JAZA), who has stepped down as Chairman and Director, after serving as Chairman since December 1996 and Director since March 1989.

The move, formalized during the company’s recent Board meeting, marks a significant shift in leadership for the telecommunications giant as it navigates an increasingly complex digital landscape.

For decades, Jaime Augusto Zobel de Ayala has been the face of Globe’s transformation. Under his chairmanship, Globe evolved from a traditional telecommunications utility into a diversified "tech-co."

His tenure was defined by a "purpose-led" approach to business, emphasizing digital inclusion and sustainability. Notable achievements during his leadership include:

• The Rise of GCash: Overseeing the incubation of Mynt, which birthed the Philippines’ first "double unicorn" and revolutionized mobile payments.
• Infrastructure Expansion: Leading aggressive 5G and fiber-to-the-home rollouts that modernized the nation's connectivity.
• The 50th Anniversary Milestone: Most recently, JAZA presided over Globe’s 50th anniversary as a publicly listed company, reflecting on a journey that began in 1975.

While stepping down as Chairman, Zobel de Ayala is expected to remain a vital figure within the Ayala Group, continuing his role as Chairman of parent company Ayala Corporation.

The appointment of Cezar P. Consing as the new Chairman ensures a seamless transition. Consing is no stranger to the Ayala Group’s inner workings, currently serving as the President and CEO of Ayala Corporation.

Consing brings a wealth of experience in high-stakes finance and corporate strategy:

• Banking Excellence: He served as President and CEO of the Bank of the Philippine Islands (BPI) from 2013 to 2021, where he was credited with digitizing the bank's core operations.
• International Expertise: His background includes nearly two decades with J.P. Morgan & Co. and a deep understanding of Asian capital markets.
• Continuity: Having served as Vice Chairman of Globe prior to this appointment, Consing already possesses an intimate understanding of the company's long-term "Go Forward Together" strategy.