Telefonica SA Changes composition Board of Directors (2241E)
04 May 2017 - 11:09PM
UK Regulatory
TIDMTDE
RNS Number : 2241E
Telefonica SA
04 May 2017
TELEFÓNICA, S.A. (herein after "Telefónica") as provided in
article 228 of the Spanish Stock Market Act (Ley del Mercado de
Valores), hereby reports the following
SIGNIFICANT EVENT
TELEFÓNICA, S.A. Board of Directors, at its meeting held today,
has resolved to adopt the following resolutions in connection with
the composition of the Board of Directors of Telefónica, S.A. and
its Committees:
- To reduce the number of members of the Board of Directors.
- To take formal note and record the voluntary resignations
presented to their respective positions as members of the Board of
Directors of Telefónica, S.A. by Mr.César Alierta Izuel, , Mr.
Gonzalo Hinojosa Férnandez de Angulo and Mr. Pablo Isla Álvarez de
Tejera, thanking them for their many years of work and
collaboration with the Telefónica Group and, in particular, for the
services rendered during their tenures.
- To appoint by co-optation Ms. Carmen García de Andrés and Mr.
Francisco José Riberas Mera as Independent Directors, upon the
proposal of the Nominating, Compensation and Corporate Governance
Committee.
- To submit for approval of the shareholders at the General
Shareholder's Meeting: (i) the re-election of Mr. José María
Alvarez-Pallete López and Mr. Ignacio Moreno Mártinez as Directors
of the Company, (ii) the ratification and appointment of the new
Independent Directors, Ms. Carmen García de Andrés and Mr.
Francisco José Riberas Mera, and also (iii) the reduction of the
number of members of the Board of Directors to seventeen, in
accordance with the good governance recommendations and the
international trends.
- Likewise, it was resolved to appoint: (i) Ms. Carmen García de
Andrés as member of the Audit and Control Committee and (ii) Mr.
Jose Javier Echenique Landiribar and Mr. Luiz Fernando Furlán, all
of whom are Independent Directors, as members of the Nominating,
Compensation and Corporate Governance Committee.
Madrid, May 4, 2017
This information is provided by RNS
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