Ablaza named Innove chairman, Genio is CEO

The board of directors of Globe Telecom has announced the appointment of Gerry C. Ablaza Jr. and Gil B. Genio as chairman of the board and chief executive officer (CEO) for Innove Communications Inc., respectively, effective Oct. 1, 2003.

Innove is a wholly-owned subsidiary of Globe Telecom serving voice, private data networks, and Internet needs of individuals and enterprises around the country.

"With the transition of Innove now almost complete, Gil’s appointment is intended to provide strong and focused leadership to the new initiatives of new company," said Ablaza, Globe president and CEO.

Genio played an important role in integrating the wireline business of Globe and its fully-owned subsidiary Isla Communications, being the chief operating officer of Islacom and head of Globe’s Wireline business Group.

In recent years, Globe’s wireline business has been registering positive EBITDA (earnings before interest, taxes, depreciation, amortization and other income/expense) and has gained significant momentum towards becoming a major player in the telecommunications industry.

Prior to joining Globe in July 1997 as chief financial officer, Genio spent more than 11 years with Citibank, N.A. in various capacities.

Genio obtained a Master’s degree in Business Management, graduating with distinction, from the Asian Institute of Management. He holds a Bachelor of Science degree in Physcis, magna cum laude, from the University of the Philippines.

Meanwhile, aside from Ablaza and Genio, other elected members of the Innove are Delfin C. Gonzalez, Rodolfo A. Salalima, and Cesar Maureal.

The creation of a separate board and the appointment of a new CEO for Innove will create a sufficient level of autonomy for Innove to set its own direction while still being ensured of an adequate oversight by Globe and its shareholders.