BBVA will depart the board of Telefónica because of the new shareholder stability | Economy | EUROtoday

Telefónica has put the equipment in movement for its subsequent General Shareholders’ Meeting, which will probably be held on March 26. In the agenda despatched by the corporate, a big motion within the operator’s energy construction stands out: the departure of BBVA from the best governing physique, with the appointment of the Australian director Jane Thompson as a brand new impartial member to switch the BBVA consultant.

The arrival of Thompson, who will be part of the board of administrators as an impartial director, represents the substitute of one of the crucial senior names in the home. José María Abril, present vice chairman and proprietary director representing BBVA, who will depart the administration physique after nearly twenty years, since 2007, when his time period expires. In this fashion, BBVA places an finish to its historic presence on the operator’s board since 1999, and of which it was a part of a tough core along with La Caixa.

This motion displays the brand new shareholder actuality of the telecom firm with the entry of the State by the State Company of Industrial Participations (SEPI) and the Saudi group STC, and the presence of CriteriaCaixa, all of them with percentages near 10% of the capital. With a 5.007% stake, BBVA is beneath the 6.6% wanted to safe a seat in its personal proper on a 15-member board. Furthermore, the monetary entity has reiterated that its presence in Telefónica is merely monetary and never strategic, qualifying it as “available for sale.”

Thompson’s appointment isn’t solely a technological wager, but additionally a decisive step in range. With her entry, the variety of girls on the Telefónica board will rise to 6 out of a complete of fifteen, thus reaching 47% feminine illustration. Thompson will be part of a workforce of advisors made up of María García Blanco, Anna Martínez Balañá, Mónica Rey, Ana María Sala, Claudia Sender and Solange Sobral.

Under the presidency of Marc Murtra, Telefónica’s board has undergone a whole reworking. The departure of BBVA would be the fourth change because the Catalan supervisor took over the reins of the operator in January 2025.

The first reworking occurred in February 2025 with the entry of Emilio Gayo after being appointed CEO to switch Ángel Vilá, and the inclusion of Olayan M. Alwetaid and Carlos Ocaña, as proprietary administrators representing the Saudi STC and SEPI, respectively. At that second Ana María Sala additionally entered, coming from Indra’s recommendation and from Murtra’s best confidence.

A second modification occurred in July when Mónica Rey, president of Atento, and Anna Martínez Balañá had been appointed impartial administrators, changing Verónica Pascual and María Rotondo. The final change occurred in October with the departure of Javier de Paz and his substitute by César Mascaraque.

Telefónica’s shareholding stays unchanged, with a steady core fashioned by Sepi with 10%, Criteria, with 9.99%, and Saudi Telecom, with 9.69%. These three firms have one proprietary director every, the identical as BBVA has so far, regardless of having a shareholding nearly 50% lower than the aforementioned shortlist of major shareholders.

Thopmson’s Profile

With the incorporation of Thompson, Telefónica seeks to inject digital DNA and expertise into international markets. His resume is a declaration of intent with in depth expertise in digital giants. MBA from the Wharton School and graduate from the University of Melbourne, Thompson, a know-how entrepreneur and lively investor in digital companies and social enterprises. Member of the board of administrators of Capri Holdings (proprietor of the posh manufacturers Michael Kors, Versace and Jimmy Choo) since January 2015, the place he’s additionally a part of the Audit Committee and the Remuneration and Talent Committee.

In 2011 she co-founded The Fusion Labs, a gaggle of digital firms specialised in buyer acquisition and monetization, after having developed an excellent worldwide profession between 2007 and 2009 as CEO of IAC/InterActiveCorp. Previously, from 2003 to 2007, she held numerous management positions at Match.com, together with senior vice chairman and basic supervisor of each Asia and North America. The candidate, who additionally labored as a administration advisor at Bain & Company, presently serves as a non-executive director of IVC Evidensia, Lightsense Technologies and Stitch.web.