Pallete renews the chief committee of Telefónica however retains the board intact | Companies | EUROtoday

The board of administrators of Telefónica authorized this Wednesday, on the proposal of its president, José María Álvarez-Pallete, two adjustments within the government committee, the primary administration physique amongst boards, however has not introduced any adjustments for the board itself, after the most recent shareholding variations and, particularly, the efficient takeover of 9.97% of the capital by the operator Saudi Telecom Company (STC).

Thus, Enrique Blanco, international director of Technology and Information (GCTIO) of Telefónica, who will finish his skilled profession within the group on March 31, 2025 after 40 years within the firm, will probably be changed as of that date within the place and on the chief committee by Andrea Folgueiras, who was a part of the succession plan. For his half, Mark Evans may also start a brand new skilled profession exterior of Telefónica beginning in January 2025 after 13 years within the group. He will probably be changed by Juan Azcue as Director of Strategy and Corporate Development, and will probably be a part of the chief committee as of January 1.

The Telefónica board has agreed on these adjustments in what was its final assembly of 2024, a yr during which there have been essential shareholding actions that ought to be mirrored within the composition of the governing physique. On November 28, the Council of Ministers approved the taking of 9.97% of the capital by STC, the Saudi group that already introduced then that it’ll request its presence on the council. SEPI, which accomplished the acquisition of 10% of the capital for two,384 million euros final May, changing into the biggest shareholder of the Spanish multinational, already joined the board with the appointment of Carlos Ocaña final July. For its half, CriteriaCaixa elevated its participation to 9.9%. These actions will contain a needed reorganization of the board, however it’s not anticipated to happen till the primary quarter, and may very well be introduced at a board assembly coinciding with the presentation of the 2024 annual outcomes, on the finish of February.

At the second, there have solely been two second-order replacements with the appointments of Folgueiras and Azcue. As defined by the corporate, Folgueiras is an digital engineer, graduated from the University of Buenos Aires and with an MBA from ESEADE. He has greater than 30 years of expertise within the telecommunications sector with positions of accountability in numerous nations. In 1991 she joined the Telefónica Group in Argentina, the place she grew to become the Chief Technology Officer (CTO) in 1997. In 2007 she assumed the Chief Technology Officer of Telefónica Deutschland, in 2013 she was appointed CTO of Telefónica Brazil and since 2016 she has been the Chief Technology Officer. and Information (CTIO) of Latin America. He is a member of the Internet for All Councils in Peru, and of Onnet Fibra in Colombia and Chile.

Telefónica has taken benefit of his appointment to thank his predecessor in command of GCTIO, Enrique Blanco, “for his technological leadership in operations and systems during all these years, in which he has set a roadmap in the telco industry that has allowed the Group to be a technological benchmark and offer the company’s clients new generation networks in the main markets.”

Evans’ departure

For his part, Azcue, who will lead the group’s Strategy department, has a degree in Economics and Business Sciences from the Complutense University of Madrid. He began his career in KPMG’s Madrid office in 1999, first in the audit area and later in the Corporate Finance team. In 2004 he joined the Mergers and Acquisitions team of Telefonica SA, where he participated in the execution of historic transactions such as the purchase of O2, the privatization of Cesky Telecom or the acquisition of 50% of the Brazilian Vivo. In 2019 he assumed the direction of said area, and since then he led the execution of strategic transactions such as the merger of O2 with Virgin Media in the United Kingdom or the sale of Telxius’s tower business. Telefónica’s management also had words of gratitude for the outgoing director of strategy, Mark Evans, who “will begin a new professional career outside of Telefónica in January 2025 after 13 years in the Group.”

According to the statement released by the operator, “Telefónica thanks Mark Evans for his exceptional contribution in positioning Telefónica to face the challenges of the future. First, as CEO of O2 UK, where he achieved sustained growth in the operation and became a leading company in the market for its innovation and customer experience. Later, as global director of Strategy and Corporate Development, where he led a new company plan that is grouped around three key objectives: Growth, Profitability and Sustainability (GPS).”