MADRID: The Board of Directors of Telefónica, unanimously approved the appointment of José María Álvarez-Pallete as CEO of the company, its board of directors and of the delegate
During her. first speech as chairman, Alvarez-Pallete ratified the Telefónica’s growth strategy and business and financial objectives announced to the market last February. These include an explicit commitment to shareholders through an attractive remuneration policy, including the distribution of a dividend of 0.75 euros per share in 2016.
Alvarez-Pallete accedes to the presidency of Telefónica after 17 years in management positions that have taken him from the general direction finance the office of director-delegate, to the presidency of Telefonica Latinoamerica and Telefonica Europe (including Spain).
in the words of his predecessor, Cesar Alierta, whom the council and its new president thanked his vision and leadership, which have positioned Telefónica among world leaders, Alvarez-Pallete is the best professional preparation and more valuable to face the new challenges of the digital market.
the executive board will make a renewed administration after the voluntary resignation of four members with extensive experience in the highest management body. This is Fernando de Almansa, Carlos Colomer, Santiago Fernandez Valbuena and Alfonso Ferrari. All have received a deep appreciation for their contributions and independence has directed its actions and has favored always constructive debate.
Four new independent directors appointed by co-opting a proposal from the nomination committee, remuneration and good governance, and whose ratification has been proposed to the general meeting of shareholders, will join the board telephone: Ignacio Cirac, physicist and one of the world references in quantum optics; Javier Echenique, VP and director of Banco Sabadell Repsol, ACS, Ence and Telefonica Moviles Mexico; Sabina Fluxà, co-executive VP and CEO of Grupo Iberostar, who is also a counselor at ACS, a member of the regional advisory board of BBVA, and patron of the Iberostar, Endeavor and ACS foundations; and Peter Löscher, who is currently chairman of Sulzer, vice-chairman of Renova Management and member of the Advisory Board of Deutsche Bank.
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