The president of the Spanish multinational Telefonica, Cesar Alierta, will leave the presidency of the company and propose to replace his number two and current CEO, José María Álvarez-Pallete <. / p>
“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, holds the presidency of Telefonica since 2000 and has proposed Alvarez-Pallete as “the manager more prepared to successfully meet the challenges of the digital revolution,” the source said.
the outgoing president 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 began a period of major acquisitions and deepened its international expansion.
in his 15 years at the helm of Telefónica, Alierta bought Bell South assets in Latin America, as in the case of Colombia. Domestically, Telefónica partnered in 2006 with Colombia Telecomunicaciones, which was the state company that took over the service provided by Telecom after its liquidation at the time. Then in 2012 it merged with Colombia Telecommunications Movistar Telefonica Moviles -company of services to form the current Telecommunications Movistar Colombia, in which the state retains a 30% stake. (Read seek to reopen the liquidation of Telecom).
The company also strengthened its presence in the region, which also took hold in Brazil by acquiring 50% of Vivo.
In Europe , was made in 2005 with O2 operator allowing him to enter the UK, Germany and Ireland.
However, the global economic crisis and heavy debt of the company led the company to start since 2012 a series of sales withdrawing from countries such as Ireland, Czech Republic and Italy.
it 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 sterling (about 14,000 million).
leading the way in the digital
Now the chairman of Telefonica gives up the position which he considers “the manager better prepared to favor over and position Telefónica once again at the forefront, this time the digital sector, “the company said.
Alvarez-Pallete joined the company in 1999 as CFO of Telefónica International, and later became general manager of corporate finance.
in 2002, he was appointed chairman of Telefonica International and after Telefonica Latin America, where it remained until 2011, when he was appointed CEO of Telefónica Europe.
Just a year later he was appointed CEO of Telefónica, becoming the number two Alierta.
Alierta remains on the board of directors of Telefonica and maintain the position of CEO Telefonica Foundation.
in 2015, the company recorded a profit of 2,745 million euros, representing a decrease of 8.5% over the previous year, due to provisions for a plan items volunteers in Spain.
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