Murtra calls his first govt summit on the head of Telefónica | Companies | EUROtoday

Marc Murtra, govt president of Telefónica, has convened almost 450 executives from all the corporate’s subsidiaries and enterprise strains for an in-person summit in Madrid on April 22. As confirmed by this media, that is the primary high-level assembly led by Murtra since his appointment in January 2025.

The assembly, which follows a standard format in American multinationals, can even be provided by way of streaming for the remainder of the group and will likely be attended by delegations from the United Kingdom, Brazil, Germany and Venezuela, in addition to these accountable for the assorted fiber infrastructure subsidiaries in Europe.

This assembly marks a turning level within the inside administration of the operator, distancing itself from the mannequin of large conventions that characterised the earlier stage. Under the presidency of José María Álvarez-Pallete, the annual administration conferences used to carry collectively greater than 1,000 executives from all of the geographies the place the operator had a presence. Those appointments, centered on the transformation in the direction of a “Digital Telco” and on debt administration by means of the sale of infrastructure, have given method to a noticeably extra compact construction centered on particular strategic markets.

The discount within the variety of attendees is a direct consequence of the company simplification coverage executed by Murtra in report time. In the final yr, Telefónica has accelerated its exit from most Latin American markets, closing the gross sales of its subsidiaries in Argentina, Peru, Uruguay, Ecuador, Colombia, Chile and Mexico. Currently, the group solely has its Venezuela enterprise pending liquidation or exit settlement. This large divestment has allowed administration to pay attention its assets and administration capability in Spain, Germany, the United Kingdom and Brazil, now thought-about the elemental pillars of the group.

In addition to the exit from Latin America, Murtra has carried out the transforming of the administration management of the Spanish and German subsidiaries, which has materialized with the appointment of Borja Ochoa as govt president of Telefónica Spain and Santiago Argelich Hesse as the brand new CEO of Telefónica Deutschland. In the British market, David Melcon has been appointed monetary director of Virgin Media O2 after his time on the Brazilian subsidiary, the place the presidency has opted for the continuity of Christian Gebara on the head of Vivo. These modifications full the reconfiguration of key operational facilities, reinforcing a command core aligned with the effectivity and profitability targets of the strategic plan.

The monetary context of this summit is marked by the outcomes for fiscal yr 2025, a yr that produced the second largest losses within the historical past of Telefónica. These pink numbers have been essentially because of the write-down of belongings in Latin America, an accounting motion essential to execute the strategic withdrawal. However, the market has reacted positively to this steadiness sheet cleanup. So far in 2026, the operator’s value has amassed a revaluation of near 10%, pushed by better visibility of money flows and diminished publicity to unstable currencies.

Strategic plan

In his speech earlier than the managers, superior by The Economist, Murtra will analyze the challenges achieved since his appointment and the progress of the strategic plan Transform & Grow (Transformation and Growth), introduced to buyers on November 4, 2025. The president’s acknowledged goal is to consolidate Telefónica as a supplier of vital infrastructure, eliminating the inefficiencies of a broad-spectrum multinational growth mannequin that the corporate has maintained for many years. The presidential speech will emphasize the necessity for monetary rigor and strict compliance with the steering operational to regain management within the European sector.

The final main summit of managers led by the earlier president, José María Álvarez-Pallete, befell on November 9, 2023. That assembly served to current the GPS Plan (Growth, Profitability and Sustainability), which sought long-term sustainability however maintained a way more intensive geographical construction. The departure of Álvarez-Pallete on January 18, 2025 closed that stage, giving method to the administration of Murtra, who has prioritized agility in execution and monetary flexibility over the organizational complexity that weighed down the group’s margins.

Sources near the operator point out that Murtra will share with its administration workforce the imaginative and prescient of a extra centered and environment friendly firm. The message addressed to shareholders, which highlights the discount of structural strain on prices and overcoming the aversion to troublesome choices, will likely be in full drive in the course of the day on April 22. Management believes {that a} smaller command construction will facilitate sooner execution of know-how deployment plans and operational integration in key markets that stay throughout the firm’s perimeter.

The conference can even serve to guage the efficiency of the brand new enterprise items that emerged after the simplification of the group. The absence of the managers of the previous Latin American subsidiaries shifts the main target in the direction of operational effectivity within the 4 predominant markets. With the closure of the geographical growth stage, Telefónica now begins a consolidation section the place profitability per buyer and value management in developed markets would be the predominant success metrics for the brand new administration.

Murtra can even place particular emphasis on the brand new enterprise vector centered on safety and protection, areas that the chief has recognized as basic for Europe’s technological sovereignty. The president of Telefónica has expressed in varied appearances his intention to place the corporate as a reference accomplice for public administrations within the safety of vital infrastructures. “Connectivity and cybersecurity are today inseparable elements of national security; our technology is a strategic asset for the defense of the continent,” the supervisor reiterated in his statements on this matter. This method seeks to seize the rise in public spending aimed toward army digitalization and cyber protection, sectors that the group now considers strategic inside its new operational configuration.