Money & Power

Globe's Ernest Cu Among World's Most Powerful Telco Leaders

He's the only Filipino in this year's Global Telecoms Business list of 100 most powerful people in the industry.
Comments

Ernest Cu, the president and CEO of listed telecommunications firm Globe Telecom, has been recognized as one of the world’s most powerful people in the telco industry this year, according to London-based media outlet Global Telecoms Business (GTB).

Called the Power100, Cu is the only Filipino included in this year’s list and joins 11 other telco executives from the Asia Pacific region. The Globe CEO has been included in the annual list since 2012.

“Cu, who has led Globe Telecom in the Philippines since 2008, has watched over its network modernization program and seen the company improve market share,” GTB said in its writeup for Cu.

Last January, Globe made headlines when a report by Mobile World Live claimed that Globe overtook its main rival in mobile phones, Smart Communications of PLDT Inc., in terms of mobile subscribers. As of end-June 2017, Globe has 59.7 million mobile subscribers while Smart has 58.7 million—the year before, Smart led with 68.3 million users while Globe had 61.3 million.

ADVERTISEMENT - CONTINUE READING BELOW

GTB also highlighted Globe and PLDT’s acquisition of the telco frequencies owned by diversified conglomerate San Miguel Corp. last year, a deal worth $1.5 billion. San Miguel had planned to put up a third player in the telco industry with its assetsbut folded a partnership with Telstra in 2016.

For the first six months of 2017, Globe’s revenues amounted to Php66.5 billion, a 5.3-percent increase from the same period the year before. Sustaining Globe’s growth is the rise of mobile data, which has become the primary driver for Globe’s mobile revenues.

This story originally appeared on Entrepreneur.com.ph.
* Minor edits have been made by the Townandcountry.ph editors.

Comments
View More Articles About:
About The Author
Lorenzo Kyle Subido for Entrepreneur.com.ph
View Other Articles From Lorenzo Kyle
Comments
Latest Stories
 
Share
There are ghosts in MiraNila, but not the sort that cause nightmares.
 
Share
The stylish, lightweight look is ready to fend off spring showers.
 
Share
From step counters to triathlon companions, these are the ones that will make you a smartwatch owner.
 
Share
The surge in Chinese property buyers has led to higher price tags and rental rates all over the region.
 
Share
The Duchess has worn the black headpiece on at least seven occasions.
 
Share
Because the best libations have just a hint of mint.
 
Share
Today, babaylans are past reminders of how Filipinos regarded women in high esteem, long before colonizers came ashore.
 
Share
The luxury watchmaker leads the list of the 100 most reputable companies in 2019.
 
Share
Meet the New New Money, the God, the East Rich, and more.
 
Share
The first bracelet was a custom piece for the Duchess of Windsor, but now you can get one of your own for a cool $1.2 million.
Load More Articles
CONNECT WITH US