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Telefonica appoints José María Álvarez-Pallete executive chairman and chairman of the board
Announced Date: 4/8/2016 Published Date: 4/15/2016

Telefonica announced the appointment of José María Álvarez-Pallete as executive chairman and chairman of the board of directors and the executive commission, succeeding César Alierta.

José María Álvarez-Pallete has previously served in several executive positions, including CFO and COO of Telefónica SA, and executive chairman of Telefónica Latin America and Telefónica Europe (including Spain).

In addition, 4 new independent directors are to join the Telefónica board: Ignacio Cirac, MD of the Max Planck Institute for QUANTENOPTIK in Munich; Javier Echenique, currently vice-chairman of Banco Sabadell and board member of Repsol, ACS, ENCE and Telefónica Móviles México; Sabina Fluxà, co-executive VP and CEO of the Iberostar Group; and Peter Löscher, formerly president and CEO of Siemens Group and currently chairman of Sulzer AG, VC of Renova Management AG and member of Deutsche Bank advisory board.