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Carl Raymond Cruz, Globe Telecom’s new CEO, speaking at a media briefing at the Fairmont Makati Hotel in Metro Manila on April 22, 2025. · Fortune · Courtesy of Globe Telecom
Carl Raymond Cruz, the newly appointed CEO of Globe Telecom, one of the Philippines’ leading telecommunications companies, says his international experiences, particularly in Nigeria and India, taught him a vital lesson: never underestimate any market, no matter how familiar it may seem.
Speaking at a media session in Metro Manila earlier this week, Cruz reflected on his leadership journey that spans across Sri Lanka, India, and most recently, Nigeria.
Prior to his new role at Globe, Cruz served as CEO for Airtel Nigeria from May 2023 until December 2024, navigating one of Africa’s most volatile economies.
“In Nigeria, the naira experienced a freefall from about 520 to over 1,100 per dollar in just a few months,” Cruz recalled. “Inflation also surged dramatically, hitting close to 42% in certain regions.
It was volatility on steroids.”Such turbulence taught Cruz the importance of adaptability and humility. “It would have been easy to assume that a market was simply lagging behind and that known strategies would easily apply,” he said. “But every market, no matter how seemingly similar, has its own unique challenges.
From FMCG to Telecom: A Career Built on Consumer Insight. Though relatively new to the telecoms sector, Cruz brings a wealth of experience from the fast-moving consumer goods (FMCG) industry, having held various leadership roles at Unilever across different countries. His transition to telecommunications, he said, was driven by a desire to be part of an industry at the core of the digital economy.
“When you work in telecommunications, you feel the impact more directly because you’re helping to build the very infrastructure that powers digital transformation,” Cruz explained.
Cruz also expressed a strong appreciation for Indian corporate culture, noting that his time working with Indian companies instilled in him a deep respect for operational discipline and strategic rigor.
Strategic Vision for Globe Telecom As he steps into his new role, Cruz is focused on expanding Globe’s presence beyond mobile services. While Globe currently leads in mobile market share, Cruz plans to aggressively grow the company’s broadband, fiber, and enterprise service segments.”We aim to be the most admired, the most profitable, and the largest player, not just in mobile, but across all segments,” he said. Additionally, Cruz addressed the future of GCash, Globe’s affiliate fintech platform operated by Mynt.
Although there has been speculation about a potential IPO, Cruz emphasized that no formal application has been filed yet. The company’s priority, he said, is to ensure readiness whenever market conditions become favorable.
Resilient Outlook for the Philippines : Despite global uncertainties, including shifting U.S. trade policies, Cruz remains confident in the Philippine economy’s resilience.”Inflation is trending below 3%, GDP growth remains solid between 5.5% and 6%, and domestic consumption continues to be a major driver,” he stated.
“The fundamentals are strong, and the country’s outsourcing sector adds another layer of stability.”With a leadership philosophy grounded in global experience and a keen eye on digital opportunities, Cruz is poised to steer Globe Telecom into its next phase of growth.
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