Telefonica’s chairman and CEO Jose Maria Alvarez-Pallete has launched a 3-year internal plan dubbed “Reconecta” (“Reconnect”) focused on consolidating the group’s recent growth. The company programme for the 2019-2021 period was presented at an event in Madrid to almost 900 executives and streamed to a further 120,000-plus Telefonica employees around the world. It follows the "Elegimos todo" (“We Choose It All”) initiative in force over the previous 3 years. Alvarez-Pallete said that programme has seen the group grow in terms of revenue, OIBDA, customers and margins, while reducing company debt by nearly EUR 10 billion since June 2016.
The chief executive said the key areas of the new "Reconnect" programme include growth in relevance for customers via “an excellent digital experience based on the simplicity and personalisation of the offer” as well as the application of Artificial Intelligence. He said the company would also focus on monetising an attractive value proposal which includes both Telefonica's products and services, as well as those of third parties, under an "open ecosystem of partners” model.
Additional priorities include strengthening the company's commitment to responsible and sustainable growth with the societies in which the company operates, increasing Telefonica's proactive role in regulatory issues and ensuring digital inclusion and respect for the digital rights of citizens. "In our almost 100 years of history, Telefonica has always found new ways to keep growing. The ability to change is in the DNA of the company,” said Alvarez-Pallete.
