The board of directors of Telefónica has accepted the resignation of its president, José María Álvarez-Pallete, and has approved the proposal for the appointment of Marc Murtra, current president of Indra. According to a relevant fact of the company, the teleco has agreed to “the orderly renewal of the presidency of the company, to adapt it to its new shareholder structure”, which includes the appointment of Murtra as Executive President of the Board of Directors and executive director. of the group, delegating to him all the delegable powers of his predecessor, for their exercise on a joint and several basis.
The same council, meeting this Saturday, has assessed the situation to accept the report of the Appointments, Remuneration and Good Governance Committee that entails the departure of Álvarez-Pallete from the presidency of the group, in order to address the orderly renewal of the first line executive and adapt it to the new shareholder structure.
In this way, the board has decided to terminate the contract signed with María Álvarez-Pallete as Executive President of the Board of Directors of Telefónica, and ask her to resign from her position as director, a wish to which Álvarez-Pallete immediately responded, with the acceptance of the Board of Directors.
Likewise, the Board of Directors has unanimously expressed its utmost gratitude to Álvarez-Pallete for “the years of work and collaboration with the Telefónica Group and, especially, for the many services provided and for his extraordinary effort, dedication and contribution during his long professional career in the group”.
In it same statement shared by Telefónica with the CNMVthe Spanish group argues that the movement in the presidency of the company responds to the will of some shareholders of the company to “undertake a new stage in the executive presidency”, which is why the Board of Directors of Telefónica met this Saturday urgently to assess the situation and adopt the replacement, with a favorable report from the Appointments, Remuneration and Good Governance Committee.
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