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Telefonica Restructures, Touts 5-Point Action Plan

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11/27/2019

Madrid -- The Board of Directors of Telefónica has approved today, at the proposal of its chairman and CEO José María Álvarez-Pallete, a new action plan that will serve as a catalyst for the transformation of the company. The plan seeks to prioritize markets where the company can be relevant and grow sustainably in the long term, boost its growth potential while leveraging the value of its infrastructure, and increase agility and improve efficiency.

The new needs and growing demands of both residential and business customers in the face of the explosion of connectivity and Artificial Intelligence, the generation of value for shareholders in the short, medium and long-term and the views of employees on the company have all constituted relevant inputs in the configuration of the new company model, according to the chairman’s letter.

Full press conference:

In this regard, the chairman of Telefónica today presented the new action plan that will serve as a catalyst for the transformation of the company and that will be implemented around five strategic decisions:

  • Focus investment and growth in the most important markets of the company: Spain, Brazil, the UK and Germany.
  • The creation of Telefónica Tech.
  • The creation of Telefónica Infra.
  • An operational spin-off of Hispanoamérica in a single unit.
  • Redefinition of the company’s corporate center.
  • Telefónica

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