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Telefónica approves José María Álvarez-Pallete as executive chairman

Staff writer |
Madrid, Spain - April 11, 2016, Madrid, Spain - Telefónica approved the appointment of José María Álvarez-Pallete as executive chairman of the company and chairman of the board of directors and of the executive commission.

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Mr. Álvarez-Pallete steps-in as Executive Chairman of Telefónica following 17 years in several top executive positions ranging from Chief Financial Officer to COO of Telefónica S.A. and including the Executive Chairmanship of Telefónica Latin America and Telefónica Europe (including Spain).

In February 1999 Mr. Álvarez-Pallete joined the Telefónica Group as a General Manager of Finance for Telefónica Internacional, S.A. In September of the same year it was given the post of General Manager of Corporate Finance in Telefónica, S.A.

In July 2002 he was appointed Chairman and CEO of Telefónica Internacional, S.A. In July 2006, Managing Director of Telefónica Latin America and Chairman in Mach 2009, CEO of Telefónica Latin America, and in September 2011 (5th) Chairman and CEO Telefonica Europe. In September 2012 he was appointed Chief Operating Officer of Telefónica, S.A.

Since the 8th of April 2016 Mr. Álvarez-Pallete is Executive Chairman of Telefónica S.A and Member of the Board of Telefónica, S.A., position that holds since July 2006. He is also one of Members of the Telefónica Executive Committee.

Mr. Álvarez-Pallete began his professional career with Auditors Arthur Young in 1987, before joining Benito & Monjardín / Kidder, Peabody & Co. in 1988. After this, in 1995, he joined the Company of Cementos Portland (Cemex) as head of the Investor Relations and Studies Department.

In 1996, he was promoted to Financial Manager for Spain and in 1998, to General Manager for Administration and Finance responsible for the Cemex Group´s interests in Indonesia and member of the Board of Cemex Asia, Ltd.

In 2001, he won the CFO Europe Best Practice Award in the category of Mergers and Acquisitions 2000 by the CFO Europe Magazine (The Economist Group). He is also Honorific Member of Carlos III Foundation Latin-American Forum since April 2003 and in July 2007, he won the “Forum de Alta Dirección” Golden Master.

On 4th October 2011, he was awarded as the Best Business Leader 2011 by “El Economista”. On 14th December 2013, he received the Award of Excellence 2013 for his contribution to development of telecommunications, awarded by the Association of Telecommunication Technical Engineers.

He received the Medalla Sorolla 2014 by The Hispanic Society of America. He was recognized by Latin Trade as Innovative Corporate Leader of the Year in 2014 Bravo Business Awards.

Four new Independent Directors, nominated by co-optation by the Nominating, Compensation and Corporate Governance Committee and proposed for ratification to the General Shareholders Meeting, will join the Telefónica Board:

Ignacio Cirac: Physicist and one of the leading authorities on Quantum Optics. Mr. Cirac is the Managing Director of the MAX PLANCK INSTITUTE for QUANTENOPTIK in Munich and a member of relevant Science and Quantum Advisory Boards, such as those of Russia, Tsinghua University (China), the Spanish National Research Council and the Visiting Committee of the M.I.T. (Massachusetts Institute of Technology).

Javier Echenique was General Manager of the BBVA Group, Board Member and General Manager of ALLIANZ-ERCOS and a member of numerous Boards of Directors, including TELEFÓNICA’s. Mr. Echenique is currently the Vice-chairman of BANCO SABADELL and a Board Member of REPSOL, ACS, ENCE and Telefónica Móviles México.

Sabina Fluxa, co-Executive Vice-president and CEO of the Iberostar Group, founded by her father Miguel FLUXA. Ms. Fluxa is a Board Member of ACS, a member of BBVA’s Regional Advisory Council and a Trustee of the IBEROSTAR, ENDEAVOR and ACS Foundations.

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