Telefónica Exec Chairman Ending Tenure, Proposes Replacement

MADRID: César Alierta is ending his tenure as the executive chairman of telecommunications company Telefónica and has proposed the appointment of José María Álvarez-Pallete for the role.

Telefónica’s board of directors will analyze the appointment of Álvarez-Pallete as the new executive chairman of the company at its next meeting, which will take place on April 8. In 2012, Alierta named Álvarez-Pallete as the chief operating officer. Álvarez-Pallete joined the Telefónica Group in February 1999 as CFO of Telefónica Internacional.

Alierta will remain on the board of directors, on which he served for four years prior to his appointment as executive chairman. He will also focus his efforts on issues such as social progress and digital education, as well as on the executive chairmanship of Fundación Telefónica. During Alierta’s tenure as the executive chairman, Telefónica became a leader in the telecommunication sector in top markets such as Brazil, Germany, Spain and Latin America.