Pallete and Vilà obtain 78.3 million euros for his or her departure from Telefónica | Economy | EUROtoday

The price of taking on on the head of Telefónica’s management after getting into the State capital via the State Industrial Participation Company (SEPI) already has an official determine. The departure of its earlier administration has meant an combination disbursement of 78.3 million euros similar to the settlements and pension plans collected by the previous president, José María Álvarez-Pallete, and his former CEO, Ángel Vilà.

José María Álvarez-Pallete, who led the corporate for nearly a decade earlier than resigning on January 18, 2025, has obtained a complete settlement of 44.5 million euros. This quantity doesn’t reply to a single idea, however to a fancy construction of acquired rights and contractual protections solid all through his lengthy profession on the operator.

The bulk of this determine, roughly 23.5 million euros, corresponds to compensation for termination of government capabilities. This merchandise is equal to 4 annuities, calculated on the premise of your mounted wage and the common of the variable bonuses obtained in your final two years. To this sum are added 13.1 million euros from its Social Security Plan.

It is noteworthy that these provident funds have been underneath scrutiny for months. The firm analyzed whether or not there was any authorized incompatibility for the previous president to concurrently accumulate the compensation and the retirement plan. Finally, authorized providers decided that Pallete’s contract—previous to the restrictive reforms launched by the corporate in 2023—allowed the compatibility of each ideas. The remainder of the previous president’s settlement is accomplished with the accrued remuneration for 2024 and the proportional execution of the share incentive plans.

For his half, Ángel Vilà, who left his place as CEO on the finish of February 2025 to get replaced by Emilio Gayo, has closed his time at Telefónica with a complete earnings of 33.8 million euros. Following a construction much like that of Pallete, Vilà obtained 17.7 million in compensation for termination and 9.7 million linked to his rights within the Social Security Plan. As within the case of the previous president, the validity of his previous contracts was the important thing that allowed these quantities to be unlocked, which might be made efficient on the time of his official retirement.

The information despatched to the CNMV underlines the change in philosophy underneath the management of Marc Murtra. The present president, who took workplace in January of final 12 months, obtained a complete remuneration of 5.2 million euros in his first 12 months, a lot increased than the 622,000 euros he earned in 2024 as head of Indra, additionally owned by the State.

However, this determine contrasts sharply with the 9.5 million that Pallete collected in its final full 12 months (2024) and represents a forty five% price discount within the departure of the primary government. This scissors coverage in senior administration appears to answer the telecom’s new company governance pointers, which search to extra strictly align salaries with the present context of the sector and the calls for of shareholders. Emilio Gayo obtained a complete of 4.5 million euros in 2025, in comparison with the 7.8 million that his predecessor in workplace obtained.

Apart from the 2 government administrators, the highest-paid director was as soon as once more Javier de Paz, who obtained 562,000 euros, 4.6% lower than in 2024 because of leaving the board on October 22.