(AFP) The chairman of Spanish telecoms giant Phone , Cesar Alierta, will leave the presidency of the company and propose to replace his number two and current CEO, José María Alvarez-Pallete.
“The Board of Directors of Telefónica will consider at its next meeting on 8 April, the appointment of Jose Maria Alvarez-Pallete as new CEO of the company,” the company said in a statement.
Alierta , 70 and holds the presidency of Telefonica since the summer of 2000, has proposed Alvarez-Pallete as “the manager more prepared to successfully meet the challenges of the digital revolution,” according to the same source.
the Alierta himself had already appointed Alvarez-Pallete as CEO of the company in 2012.
Under the mandate of Alierta, who replaced Juan Villalonga in front of Telefonica, the company started a time of major acquisitions and deepened its international expansion.
in his fifteen years at the helm of Telefónica, Alierta bought assets of Bell South in Latin America strengthening its presence in the region, which also took hold in Brazil acquiring 50% of Vivo.
in Europe, was made in 2005 with O2 operator allowing him to enter the UK, Germany and Ireland.
Alierta also took decisions “as the amortization of UMTS licenses or the creation of Telefónica Digital,” the company said.
However, the global economic crisis and heavy debt of the company led the company to start from 2012 series of sales withdrawing from countries such as Ireland, Czech Republic and Italy.
is also close to leaving the UK after selling in March last year O2 to Hong Kong conglomerate Hutchison Whampoa by 10,250 million pounds ( 14,000 million euros)
According to Telefonica, with Alierta, the company became a “leader in major markets that have led to its strategic commitment: Brazil, Germany, Spain and Latin America”..
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