At its annual stockholders meeting last May 30, Converge CEO and co-founder Dennis Anthony Uy expounded the company’s plans to diversify beyond telecommunications.
On the same day, during the Board of Directors Organizational Meeting, the board also announced significant changes to the fiber company’s executive leadership.
Uy and Converge president and co-founder Maria Grace Uy kicked off the stockholders meeting by apprising shareholders of the company’s strong performance last year.
Grace Uy specifically highlighted that the fiber telecommunications provider’s consolidated revenues increased by 14.8% year-on-year to more than ₱40.6 billion due to a growing customer base across both residential and enterprise segments.
“In 2024, Converge delivered results at the high-end of all financial targets, reflecting strong operational execution and reaffirming the significant growth potential that remains ahead,” she emphasized.
Jumping off from its strong showing in 2024, Dennis Uy asserted that Converge is positioned to further perform in 2025 due to its plans to leverage the opening of two international cable systems as well as the activation of its state-of-the-art data centers later this year.
The two international cable systems, the Southeast Asia Hainan-Hong Kong Express (SEA-H2X) and BiFrost Cable System, are expected to increase network capacity, reduce latency, and bolster network resilience for the Philippines and other countries in the SEA region.
Converge aims to maximize this opportunity to better support existing residential and enterprise customers, as well as enlarge its customer base.
On the other hand, the soon-to-launch data centers are a crucial part of the company’s expansion beyond the telecommunications industry or its shift to a “techco” company.
Techco is a recent term that describes the transformation of traditional telecommunication companies into enterprises focused on a wider range of technologies.
The activation of Converge’s data centers aim to solidify its expansion into other technologies by capitalizing on the rising demand for cloud and enterprise services.
Uy also touched on Converge’s other plans to move into the techco space by hinting at new ICT product and service offerings.
“As we look ahead to 2025, we are embarking on a major plan that aligns with our techco direction. The company has begun looking beyond connectivity, this means diverging our investments into emerging technologies such as artificial intelligence (AI), cloud architecture, and edge computing,” Uy said.
“This crucial technology is not just being used in our own digital infrastructure, they will form the springboard for [Converge’s] new products and services in the future,” Dennis Uy stated.
In line with company’s future plans, the board announced strategic changes that would prepare the company for its techco transformation.
First, Converge chief operations officer Jesus “Boboy” Romero, signified his desire to retire after close to a decade of service. Romero’s retirement will be effective on June 30, 2025. Taking his place effective July 1 is current chief commercial officer and chief sustainability officer Benjamin “Benj” Rex Emilio Azada.
Azada served for more than three years as Converge chief strategy officer before being appointed to chief commercial officer in early 2024.
He is credited with contributing to Converge’s growth over the past year, including the nearly 15% consolidated revenues increase and the 20% boost to the residential subscriber base.
“Converge is entering an exciting new era that will be defined by dynamic changes and innovations. We’ve made strategic adjustments to our management as we evolve into a technology company. We need this kind of focus for us to leap into the future beyond connectivity services and innovative solutions that leverage pivotal technologies such as AI, the Internet of things, and cloud computing,” stressed Uy.
Azada’s sustainability portfolio is being handed over to Converge corporate compliance and data protection officer Laurice Esteban-Tuason, who was concurrently named as corporate sustainability officer.
Rounding off the leadership changes, Converge treasurer Christine Renee Blabagno has been appointed concurrently as chief risk officer to guide the company through the Philippines’ evolving business environment, social climate, and broadband landscape.
