In the context of continuing transformation, the executive chairman of Telef·nica, Jos· Mar·a ·lvarez-Pallete, has decided to redesign the organizational structure of the company to accelerate the pace of business growth, facilitate the implementation and achievement of new goals and promote the new values that will govern corporate life in the coming years. The purpose is to enable Telef·nica to reach the highest relevance in the lives of its customers.
In this respect, the Nominating, Compensation and Corporate Governance Committee today approved, in its ordinary meeting, to propose the appointment of ·ngel Vil· Boix, until now chief Strategy and Finance officer, as Telefonica's new chief operating officer (COO) at tomorrow's meeting of Telefonica's Board of Directors.
·ngel Vil· will be proposed to be appointed by co-optation as a member of the Board of Directors, as executive director, occupying the vacancy to be left by the departure of Julio Linares from the Board.
Julio Linares will continue to be linked to the group and will be proposed as a member of the Board of Directors of Telef·nica Brasil and Telef·nica Deutschland. He will also continue to represent the company institutionally in several organizations.
The appointment of the new chief operating officer consolidates the operational model introduced in 2014. The five operating businesses ' Spain, Brazil, Hispanoam·rica, Germany and the United Kingdom ' as well as the chief Commercial Digital officer and the chief Global Resources officer will report directly to the chief operating officer.
Under the new structure, Laura Abasolo will be appointed as chief Finance and Control officer, reporting directly to the executive chairman, Jos· Mar·a Alvarez-Pallete. This area encompasses the responsibilities in the areas of Finance, Tax, Financial Planning and Coordination, Consolidation and Accounting Policies, Control and Planning, and Investor Relations. To date, Laura Abasolo was director of Planning, Accounting and Control and has been a member of the Executive Committee since March 2014.
Likewise, the current director of Corporate Development and Fonditel, Enrique Lloves, will become head of a new Strategy and Corporate Development area and will join the Executive Committee of the company.
In this way, the following will report directly to the executive chairman of Telef·nica: the chief operating officer (Angel Vil·), the group general counsel (Ramiro S·nchez de Ler·n), the chief data officer (Jose Mar·a Alonso), the chief finance and control officer (Laura Abasolo), and the heads of Corporate Communication and Institutional Marketing (Jose Luis G·mez-Navarro), Public Affairs and Regulation (Carlos L·pez Blanco), Strategy and Corporate Development (Enrique Lloves), chief of Staff (Mar·a Garc·a-Legaz) and Chaiman Public Affairs (Francisco de Bergia).
The executive chairman of Telef·nica will promote the company’s public positioning in the digital ecosystem as a leader in digital transformation in the countries in which it operates and contribute to define the new rules of digital economy, with customer trust as a key pillar for the future of the company.
Likewise, in the progress towards a platform company, Telef·nica continues to simplify its structure, unifying management areas to streamline decision making and execution, reinforcing Telef·nica’s technological and innovation capabilities.
In this context, the Remuneration, Nomination and Corporate Governance Committee will propose to the Board that the global chief technology officer Enrique Blanco should take responsibility for the systems area, until now led by Phil Jordan (global chief information officer), who is leaving the company.
In order to focus all the efforts and resources destined to innovation in one area, the Committee will propose the integration of Telef·nica Open Future into the Innovation area, led by Gonzalo Mart·n-Villa.
Luis Blasco, until now chairman of video in Spain, will leave the company. Telef·nica thanks him for his dedication in these years.
