Thursday, July 27, 2017

Telefónica announces restructuring

As part of the company's ongoing transformation program, Telefonica executive chairman José María Álvarez-Pallete has unveiled a new organisational structure designed to support business growth and facilitate the implementation and delivery of corporate objectives.

As part of this initiative, Telefonic's nominating, compensation and corporate governance committee has approved the appointment of Ángel Vilá Boix, formerly chief strategy and finance officer, as its new chief operating officer (COO). Therefore, at a meeting of Telefonica's board of directors. Ángel Vilá will be proposed as a member of the board and executive director, taking up the vacancy created by the departure of Julio Linares from the board.

Julio Linares has been proposed as a member of the board of directors of Telefónica Brasil and Telefónica Deutschland, and will continue to represent the company institutionally in several organisations.

The appointment of Ángel Vilá Boix as COO will consolidate the operational model introduced in 2014. With the appointment, Telefonica's five operating businesses - Spain, Brazil, Hispanoamérica, Germany and the UK - as well as the chief commercial digital officer and the chief global resources officer, will report directly to the COO.

Under the new structure, Laura Abasolo will become chief finance and control officer, reporting directly to the executive chairman, José María Alvarez-Pallete. Laura Abasolo is currently director of planning, accounting and control, and has been a member of the executive committee since March 2014.

In addition, the current director of corporate development and Fonditel, Enrique Lloves, will become head of a new strategy and corporate development area, and will also join the executive committee.

As a result of these changes, the following personnel will report directly to Telefónica's executive chairman: COO Angel Vilá; group general counsel Ramiro Sánchez de Lerín; chief data officer Jose María Alonso; chief finance and control officer Laura Abasolo; head of corporate communication and institutional marketing Jose Luis Gómez-Navarro; head of public affairs and regulation Carlos López Blanco; head of strategy and corporate development Enrique Lloves; chief of staff María García-Legaz; and chairman public affairs Francisco de Bergia.

Additionally, the committee will propose that global CTO Enrique Blanco should take responsibility for the systems area, currently led by Phil Jordan as global chief information officer, who is to leave the company. The committee will also propose that Telefónica Open Future be integrated into the innovation area, led by Gonzalo Martín-Villa.

Ángel Vilá Boix

Ángel Vilá has served in a number of executive roles with Telefonica Group since the late 1990, and executed key corporate transactions including those relating to O2 plc, Brasilcel/Vivo, EPlus, GVT and the Telefonica Germany IPO.


Ángel Vilá currently serves as a board member of Telefónica Germany and as a trustee in the Telefónica Foundation. He has previously served on the boards of Telco SpA (Italy), BBVA, Digital Plus, Atento, Telefónica Contenidos, Telefónica Czech Republic, Endemol, CTC Chile, Indra SSI and on the advisory panel of Macquarie MEIF funds.

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