Globe, the country’s mobile leader and digital solutions platform, on Tuesday assured the public that it has consistently upheld the highest standard of good corporate governance across its organization amid the controversial P48-billion budget overruns incurred by its rival telecom company.
Globe said its management is responsible for providing, in a timely manner, complete and accurate financial information on operations as a publicly-listed company following the Philippine Financial Reporting Standards.
“Globe is committed to best practices in corporate governance to deliver continuous value for our customers, employees and stakeholders. Good corporate governance is central in the way we do business and serves as our North Star in making business decisions,” said Globe chief finance officer, treasurer and chief risk officer Rizza Maniego-Eala.
Globe’s statement came after PLDT incurred a P48-billion cost overrun, representing about 12.7 percent of the total capital expenditures amounting to P379 billion from 2019 to 2022.