Telefonica SA New organizational structure (6007D)
01 February 2018 - 6:55PM
UK Regulatory
TIDMTDE
RNS Number : 6007D
Telefonica SA
01 February 2018
TELEFÓNICA, S.A. as provided in article 228 of the Spanish Stock
Market Act (Ley del Mercado de Valores), hereby reports the
following
SIGNIFICANT EVENT
The Board of Directors of TELEFÓNICA, S.A., at its meeting held
today, and upon favourable report from the Nominating, Compensation
and Corporate Governance Committee, has resolved to adopt a new
organizational structure in order to make the Company more agile,
simple and focused on management, customer service, growth,
efficiency and profitability.
The main changes are detailed below:
- The areas of General Counsel, and Public Affairs and
Regulation, up until now led by Mr. Ramiro Sánchez de Lerín and Mr.
Carlos López Blanco respectively, will be unified and headed by Mr.
Pablo de Carvajal.
- Mr. Emilio Gayo will replace Mr. Luis Miguel Gilpérez as
Executive Chairman of Telefónica España and member of the Executive
Committee of Telefónica, S.A.
- Telefónica Hispanoamérica, until now headed by Mr. Eduardo
Caride (also a member of the Executive Committee), will be split
into two new units in order to more effectively manage the
different market situations:
-- Telefónica Hispam Sur unit is created (encompassing
operations in Argentina, Chile, Peru and Uruguay), which will be
led by Mr. Bernardo Quinn (until now Director of Global Human
Resources).
-- Telefónica Hispam Norte unit is created (encompassing the
operations in Colombia, México, Central America, Ecuador and
Venezuela), which will be led by Mr. Alfonso Gómez Palacio.
- The area of People (Human Resources) is enhanced and will
report directly to the Executive Chairman. This area will be led by
Ms. Marta Machicot, who will join the Executive Committee.
Telefónica, S.A. highly appreciates the effort, dedication and
commitment demonstrated by all of the outgoing executives during
many years of service in positions of responsibility within the
Group.
Madrid, January 31, 2018
This information is provided by RNS
The company news service from the London Stock Exchange
END
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February 01, 2018 02:55 ET (07:55 GMT)
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