Telefonica has announced a number of changes to its management structure following a meeting of its Nominating, Compensation and Corporate Governance Committee. Above all, the company has created a new Strategy and Development Department with a view to “leading the technological transformation process and promoting the consolidation of the new Telefonica”. The area will encompass matters of strategy, M&A and digital innovation and will be headed by former O2 CEO Mark Evans, who oversaw five consecutive years of growth at the UK operator and paved the way for the recent merger with Virgin Media, the largest corporate transaction in Telefonica’s history.
Evans will remain part of the Telefonica Executive Committee and his department will absorb the Corporate Strategy department, previously led by Eduardo Navarro, and the Corporate Development department, previously dependent on director of finance Laura Abasolo. Telefonica said Navarro will now head the Public Affairs and Sustainability Department, with maximum responsibility for multidisciplinary areas such as Investor Relations, Communication, Institutional Marketing, Brands and Sponsorship among others.
Luis Rivera continues to lead Corporate Strategy, Juan Azcue continues to be responsible for M&A while Chema Alonso, the company’s Chief Digital Officer, will now lead Innovation, Data, Platforms and Digital Products & Services.
