Telefónica’s board of directors have unanimously approved the appointment of José María Álvarez-Pallete as executive chairman of the company and chairman of the board of directors and of the executive commission.
In his first action, Álvarez-Pallete ratified Telefónica’s growth strategy and both the commercial and financial goals that were outlined in February.
Álvarez-Pallete has held several senior positions, ranging from CFO to COO of Telefónica S.A. and including the executive chairmanship of Telefónica Latin America and Telefónica Europe (including Spain), in the last 17 years.
In his new roles he has replaced César Alierta, who has described Álvarez-Pallete as the best-prepared and most valuable executive to face the newest challenges of the digital market.
Following the voluntary resignations of members, four new executives – Ignacio Cirac, Javier Echenique, Sabina Fluxà and Peter Löscher have joined Telefónica’s board.
