Globe Telecom’s De Larrazabal CFO of the Year finalist

MANILA, Philippines -   Globe Telecom’s Albert De Larrazabal has been shortlisted for the 2013 CFO of the Year Award given by CFO Innovation Asia, the only online publication exclusively for top-level finance managers in the corporate sector in Asia and China.

As CFO of the telecommunications company, De Larrazabal is instrumental in driving the company’s success over the past several years.  His strong grasp of the telecommunications business enabled the company to sustain its growth momentum by providing strategic funding and advisory support to the various business segments, bringing the company’s revenue and subscriber base to record levels despite heightened competition.

“The company’s consistent growth emboldens us to face existing market challenges with better pricing structures that differentiate our customized products and innovative solutions for our 36 million consumer and business customers.  Progressively, we are beginning to feel the tangible results of our transformation programs, especially on our network, which will allow us to create new markets and new businesses.  With similar initiatives in other areas of our business, we are confident that our financial performance will continue to be consistent with our targets, despite the intense competitive environment.  We are deeply grateful for the international recognition of the underlying efforts we are doing in Globe,” De Larrazabal said.

The CFO Innovation Asia Awards recognize the achievements of the very best financial managers in Asia. Now on its second year, the awards acknowledge not only chief financial officers and their teams, but also the firms that provide them with the cutting edge services, support, strategies and technologies that enable their success.

Nominated chief financial officers are those that have instituted innovations over the past year that resulted in outstanding outcomes that include significantly lower total cost of finance, faster monthly closing, speedier completion of quarterly and annual reports, more accurate forecasting, budgeting and stress testing and big customer and revenue wins.

 In 2012, Globe Telecom’s consolidated revenues reached a record high of P82.7 billion, a 6% rise from a year earlier following robust performance from its mobile, broadband and fixed line data businesses. The company’s subscriber base also reached an all-time high of 33.12 million at the end of 2012, a 10% growth from a year earlier.

This year’s awards ceremony will be held on November 19 in Singapore. The winner will be chosen based in part on a voting poll by the readers of CFO Innovation paired with expert judging by experienced CFOs and industry leaders.

De Larrazabal, who has extensive experience as a senior executive in finance, business development, treasury operations and investment banking, among others, was appointed as Globe CFO in April 2010.  He joined the telecommunications company in 2006 as head of the company’s treasury division.