The longest-serving head of a leading European telecommunications company, Telefonica executive chairman Cesar Alierta, is to retire after nearly 16 years in the position. In a statement, the company announced that Alierta will propose the current COO, Jose Maria Alvarez-Pallete, as the new chairman at a board meeting to be held on 08 April. According to the outgoing chairman, Alvarez-Pallete is "the leader most prepared to successfully face the challenges imposed by the digital revolution". Alvarez-Pallete was named operating chief in 2012 and has been considered Alierta's likely successor for a number of years.
Seventy-year-old Alierta took over as chairman of the operator in 2000, three years after the former incumbent was privatised. Under his management, Telefonica has invested over USD 100 billion in acquisitions to emerge as a leading operator in Latin America and across Europe. He will remain on Telefonica’s board of directors and will focus on "social progress issues", such as digital education, as executive chairman of Fundacion Telefonica, said the company.
