Ernest Cu: It’s the perfect time to leave Globe

MANILA, Philippines — When Ernest Cu took the helm of Globe Telecom in 2009, he was an outsider in the industry, and the Ayala-led telco was struggling to find its footing in a cutthroat market.

Sixteen years later, under Cu’s leadership, Globe has reinvented not just itself but the telecom landscape as well.

With this, Cu, 64, believes he has done his job.

“It’s the perfect time to leave Globe,” Cu told The STAR in a recent interview at his office.

Globe, after all, is now more than just a telco; it is a powerhouse of digital innovation and customer-centric solutions.

The company announced Cu’s retirement effective April 2025, marking his 16 years with Globe.

“I’ve built it to this point,” he said, noting that Globe’s indicators are all strong – from share price to market share to profitability.

Armed with a background in business process outsourcing, Cu said when he became CEO of Globe, he was a telco outsider, but was given enough leeway and support by the Zobel brothers and his predecessor, Gerardo “Gerry” Ablaza, to transform the company on his own terms.

“The best transitions happen when a CEO hands over the reins. That’s how it was for me. When Gerry left, he left me alone, so I did things on my own,” he said.

As for the Zobels, Jaime Augusto and Fernando, Cu said they were like his partners more than his employers.

“They’ve been fantastic,” he said.

Cu is leaving the industry at a quiet time with no turbulence or ugly wars, unlike in the early 2000s when there was still much to fix.

Among CEOs in the Philippines, Cu stands out almost like a sore thumb.

He is not a typical Ayala company CEO who is usually formal, in a coat and tie, and seemingly “way up there.” Cu is comfortable in jeans and shirts, like a Silicon Valley executive. He doesn’t like meetings, especially structured board meetings, and instead prefers a culture of innovation and risk-taking, a DNA he cultivated at Globe.

Insiders credit Ernest’s “visionary leadership” for Globe’s success. He had predicted the changing preferences of consumers before they happened, including data-driven lifestyles—streaming platforms for entertainment, internet for communication, and mobile banking for payment needs.

Against this backdrop, Globe heavily invested in future-ready infrastructure and strategic upgrades that allowed it to enhance service and extend its influence in the digital age.

Globe embarked on a $790-million modernization venture dubbed Project Nemesis which revamped Globe’s entire network infrastructure, replacing outdated equipment and enhancing coverage.

In parallel, Globe also launched Project Sweden, a $90-million program that revolutionized its IT backend by unifying fragmented systems into a streamlined platform, eliminating inefficiencies and bolstering the company’s agility.

With a consolidated IT architecture, Globe was able to successfully deploy new products and respond more quickly to customer needs.

Cu also called the attention of the government on the tedious process of securing permits for cell towers.

One of his standout achievements has been the remarkable success of GCash, the country’s leading mobile wallet and first double unicorn, which improved financial access for millions of Filipinos.

But for Cu, his biggest accomplishment as Globe CEO is reshaping the culture of Globe to become very customer-centric.

“That was what we sought out to do very early on because from there, everything follows. If the customer loves your product, they will love the company. Look at our stores now; they’re full of people,” he said.

Circle of Happiness

Cu introduced the Globe Circle of Happiness philosophy in 2010.

“It starts with happy employees. Happy employees produce happy customers. Happy customers produce happy shareholders. So in turn, reward the employees, and the circle goes around.”

It’s similar to the “happy wife, happy life” mantra, he said.

Infinite Game

Cu also took a page from Simon Sinek’s The Infinite Game, a book that offers a new perspective on how to live and lead in the 21st century.

“We went into what they call the infinite game, and the infinite game was all about purpose—the purpose of helping Filipinos build their lives. You will never finish that because it’s hard, so it’s infinite,” Cu said.

With this legacy, Cu is happy with what he has accomplished. He will still be around as chairman of GCash and help in 917Ventures, but other than that, he said he does not want to sit on boards.

In all, he is counting the days to April, eagerly looking forward to having more time for golf, which he said has taken a backseat. He also looks forward to more travels abroad, including going on a safari again and perhaps spending more time in his villa in Tuscany.

“I really want to go back to my golf. I was a pretty decent player before. I’m a very bad player now,” he said.