The President and CEO is accountable to the Board for the development and recommendation of strategies, and the execution of the defined strategic imperatives. Through the Board and Executive Committee, the President and CEO is able to update and inform the Board of Globe’s business strategies and plans, CG and sustainability initiatives and requirements, among other economic matters relevant in the performance of the business.
After ASMs, the newly-elected Board of Directors convenes an organizational meeting to set-up its board committees and appoint key officers. After ASMs, the company submits to pertinent regulators our disclosure on key officer appointments and board committee members, among other results of the ASMs.
The President and CEO is assisted by the senior management. The CAE assists in discussions with and updates to the Board through the ARC while the CFO, Treasurer, and CRO reports and updates through the Finance Committee, ARC, and BROC. Meanwhile, the Chief Compliance Officer assists the President and CEO to the Board through the Nomination and Governance Committee and Executive Committee with regard to CG, compliance, and relevant strategies and matters. Support from the CHRO is most evident in the Compensation and Remuneration Committee. The General Counsel provides high-level legal consultation and updates to the Board together with the Corporate Secretary. Other executive officers are invited during Board and Board Committee meetings as necessary.
Meanwhile, the Chief Sustainability Officer (CSO), Ms. Maria Yolanda C. Crisanto, has direct oversight on the company’s ESG (Environment, Social, and Governance) commitments, policies, strategies, targets, programs, and disclosures.
Part of Ms. Crisanto’s duties and responsibilities as the CSO is to communicate ESG-related concerns and initiatives between the management and the Board through the President and CEO and through the Board Risk Oversight Committee (BROC), a body that enables Globe’s strategy for ESG and corporate governance. The CSO also leads the development of the company’s annual integrated report and reviews the environmental and social aspects of the report. She facilitates knowledge transfer of trends and developments in ESG and ensures opportunities are maximized within the organization.
The CSO is also Globe’s Chief Corporate Communications Officer. As a Key Officer, she reports directly to the President and CEO and is part of the senior management team.
Mr. Anton Reynaldo M. Bonifacio, the Chief Information Security Officer (CISO), leads the Information Security and Data Privacy Division (ISDP), which is a fully-operationalized group that focuses on Globe’s data privacy and cybersecurity matters. The Board, through the ARC and the BROC, is provided regular updates on information security and data privacy matters by the CISO to ensure that cyber risks and technology or digital threats to the business and the customers are prepared for, addressed and managed effectively. Supporting the office of the CISO, the Chief Privacy Officer (CPO), Atty. Irish Krystle Almeida, performs her function in accordance with Philippine Republic Act 10173 or the Data Privacy Act of 2012 and its relevant implementing rules and circulars. As CPO, she also functions as the key liaison with the National Privacy Commission. The CISO also reports directly to the President and CEO, ensuring that cybersecurity and privacy remains a priority at Globe.
In addition, the Office of Strategy Management (OSM) reports to the President and CEO and oversees Globe’s strategy management processes specifically strategy execution and performance tracking linked to the company’s Balanced Score Card (BSC). Globe reviews and formulates the Company’s strategic priorities annually, which then guide the formulation of the key business strategies and goals for the year. Using the balanced scorecard framework, each business group identifies financial and nonfinancial objectives, and sets targets and initiatives to achieve them as reflected in the groups’ terms of reference (TOR). To ensure line of sight, the group TORs are cascaded to all employees, making sure that everyone understands and appreciates their contribution to the group goals.
Key programs, projects, and major organizational initiatives are taken up by the senior management, composed of the President and CEO, and the heads of each major business units and support groups. All budgets and major capital expenditures must be approved in accordance with Globe’s limits of authority and by the CEO prior to endorsement to the Board for approval. The senior management consults with the chief advisors to provide sound inputs and advice as required. They all meet at least once a week.
Management is mandated to provide complete and accurate information on Globe’s operations and affairs in a timely manner. Management is also required to prepare financial statements for each preceding financial year in accordance with Philippine Financial Reporting Standards (PFRS). Management’s statement of responsibility with regard to the company’s financial statements and the fair and truthful preparation thereof is included in this Annual Integrated Report.