Murtra relieves the director of Relations with Investors of Telefónica | Companies | EUROtoday

The president of Telefónica, Marc Murtra, has determined to dispense with Adrián Zunzunegui, the Directorate of Relations with Investors of the Operator since May 2018. The departure has been produced on the eve of the corporate current on May 14 the outcomes of the primary quarter of this yr, wherein it’s anticipated to register sturdy losses resulting from provisions for the deterioration of the enterprise in Latin America, particularly in Argentina.

The sale of the phone subsidiary in Argentina closed on February 24 will contain a damaging influence on the operator’s accounts of 1,107 million euros, which shall be computed as losses in its outcomes equivalent to the primary quarter of this 2025 yr, as this newspaper superior. This damaging accounting influence is as a result of reclassion of damaging conversion variations of the Argentine weight accrued by the subsidiary, and won’t contain money exit.

The firm already loaded within the fourth quarter of 2024 provisions of two,022 million for the deterioration of belongings in Latin America. These accounting losses have been distributed between Argentina (1,274 million), Chile (397 million), Telefónica Tech (243 million) and Peru (108 million). Some endowments that led the telecommunications firm to register web losses of 1,003 million within the fourth quarter and 49 million in the entire final yr.

Under the presidency of José María Álvarez-Pallete, Zunzunegui changed Pablo Eguirón in 2018 with the entrustment of bettering relations with funding funds akin to Blackrock, Blackstone or Norges or GIC, and persuade the businesses of analysts of the potential of the inventory market motion as Goldman Sachs, Morgan Stanley, JP Morgan, Citi, UBS or Banco Santander. Pallete held the speech that Telefónica’s worth was undervalued and promised shareholders a rise in worth as the idea of the earlier strategic plan offered in November 2018. However, the excessive debt and enterprise stagnation motivated a drop within the inventory market that marked minimal in the course of the pandemic in 2020. The departure of Zunzunegui is fast and nonetheless figuring out its aid, in line with its aid The economist. From Telefónica they haven’t commented on the data.

Currently, of the 32 Stock Exchange companies that cowl Telefónica, solely six advise shopping for their titles, in comparison with six others they like to promote and 18 that stay impartial. The common goal worth of analysts is 4.20 euros, beneath the present operator worth. In addition, it’s anticipated that within the accounts of the primary phone semester, sturdy disabilities for the sale of its subsidiary in Peru for 900,000 euros to the Argentine group Integra Tec, which assumes a debt of greater than 1.2 billion euros. Some losses which might be harming worth, and that collide with the renewal of the present strategic plan that Murtra has promised for the second half of this yr with the primary objective of rewarding the shareholder.

On the opposite hand, the corporate plans to include Movistar+ Jorge Pezzi, CEO of Boomerang TV and former companion of José Miguel Contreras in Lacoproductory. The signing, as reported The confidentialwill coincide with the departure of Domingo Corral, present director of fiction and leisure of fee tv.

Changes in Brazil

On the opposite hand, the Brazilian subsidiary of Telefónica, an important of the group with Spain and Germany, has renewed 4 of the 12 seats of its Board of Directors and has integrated the utmost determination physique with 4 new members as independents, particularly, Gregorio Martínez Garrido, Marc Xirau Trias, César Mascaraque and Cristina Presz.

One of the impartial administrators elected on the firm’s basic assembly is Marc Xirau Trias, who has been working since 2014 on the Specialized Advice Firm and Financing Financing and Financing Crea Investment, based in 2011, amongst others, by the president of Telefónica, Marc Murtra. Xirau, who has a level in journalism, legislation and political science and has a postgraduate diploma in finance, additionally labored at Prisma Corporate, in legislation legal professionals, in Garrigues and Arthur Andersen.

Likewise, it has been integrated into the Board of Directors of the Brazilian subsidiary of Telefónica as Independiente Cristina Presz, which can also be a part of the utmost determination -making physique of Golden Arcos – proprietary of the principle McDonald’s franchise in Latin America – and was a Eurofarma Laboratorios counselor, C & A Fashions and President of SAP in Brazil, amongst different positions. Another new impartial member of Telefónica Brazil is César Mascaraque, who has labored, amongst different firms, on Google (as chargeable for enterprise improvement for southern Europe and rising markets) and in IAC Search and Media, the place he served as General Director of Operations in Europe. In addition, he based finexia within the United Kingdom, a platform on-line of SME financing, and BPM advertising and marketing in Ireland.

Another permitted permitted permitted is that of Gregorio Martínez Garrido, who was treasurer of the PSOE between 2014 and 2017, though he has been away from politics for eight years and is now director of institutional relations on the University of Nebrija and its basis. In addition, all through his profession he has held the place of Operations Manager of ACCIONA, has labored in Capgemini, in Ernst & Young and has been a part of completely different administration suggestions akin to that of the State Society of Industrial Participations (SEPI), the true property of promotions and leases and the State Society of Infrastructure and Peninal Equipments (SIEP).

Meanwhile, Alfredo Arahuetes García, Ana Theresa Masetti Borsari, José María del Rey Osorio and the Catalan lawyer Juan Carlos Ros Brugueras, who not too long ago joined Movistar +’s determination, have not too long ago left the board of administrators. The remainder of the Board of Directors of Telefónica Brazil is made up of its president, Eduardo Navarro, Andrea Capelo Pinheiro, Christian Mauad Gebara, Denise Soares Dos Santos, Ignacio Maria Moreno Martínez, Jordi Gual Solé (President of Caixabank between 2016 and 2021), Solange Sobral Targa and Francisco Javier de Paz Mancho (President of Movistar+ because the starting of Movistar+ because the starting of Movistar+ because the starting of the start of the start.