Ayala-led Globe on Tuesday assured the public that it maintains the highest standards of integrity and accountability in all its dealings throughout its value and supply chains.
Globe issued the statement after its rival, PLDT, uncovered overspending of around P48 billion from 2019 to 2022.
“International standards in corporate governance are deeply embedded in Globe and practiced across the board, from the Board of Directors and top management, to its employees in each and every Globe office across the country,” said Rizza Maniego-Eala, Globe chief financial officer, treasurer and chief risk officer.
She said Globe follows a comprehensive manual of corporate governance and code of conduct which govern how it conducts business with stringent policies against insider trading and corruption, dealing in securities, conflict of interest, environmental sustainability, health and safety, as well as how it deals with suppliers and vendors, among others.
Eala assured that Globe’s procurement is always above board and in compliance with equal and fair treatment policies. Globe also maintains an open channel where vendors may air concerns, including the Vendor Management platform and the Globe Whistleblower Network.
“Globe is at the forefront of the industry in corporate governance practices. This is at the core of our business as we endeavor every day to do business the right way while we advocate and exemplify transparency, integrity, accountability and fairness across all aspects of our business,” she said.
The SEC has begun its probe into PLDT’s P48 billion “budget overrun” which the telco could not account for, as well as possible fraudulent activity amid the selloff of shares prior to the official disclosure.
PLDT “is undertaking a management reorganization process and has initiated improvements on its processes and systems to address weakness that allowed such budget overruns to occur.” It had appointed a new chief technology officer, controller and senior vice president.