Telefonica confirms Alvarez-Pallete as chairman and CEO

Nieuws Algemeen Spanje 8 APR 2016
Telefonica confirms Alvarez-Pallete as chairman and CEO

Telefonica announced that its board of directors approved the appointment of Jose Maria Alvarez-Pallete as chairman and chief executive in a meeting that also saw four board members voluntarily step down. The new CEO replaces Cesar Alierta, the longest-serving head of a leading European telecommunications company, who last month announced that he wanted COO Alvarez-Pallete to replace him, describing him as “the executive best prepared to face the newest challenges of the digital market.” Alierta will remain on the board and continue as executive chairman of the company’s foundation.

The company also announced the voluntary resignation of four board members – Fernando de Almansa, Carlos Colomer, Santiago Fernandez-Valbuena and Alfonso Ferrari – to be replaced by four new independent directors: Ignacio Cirac, a Spanish physicist specialising in quantum optics, Javier Echenique, a vice chairman of Banco de Sabadell, Peter Loscher, a former CEO of Siemens and Sabina Fluxa of tourism company Iberostar. 

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