July 4, 2020

Telefónica president sees signs of confidence in the company's revolution

The president of Telefónica, José María Álvarez-Pallete, said Tuesday that he sees signs of "confidence" in the company's new organizational plan, "which some have described as revolution," he said, so he feels very "motivated" to Take it forward.

Pallete has made these statements in New York just before receiving the Business Leader of the Year award granted by the Spanish-US Chamber of Commerce, in a ceremony in which he advocated addressing without delay "the transition to the new digital economy, "an issue in which a new" social pact "or" digital constitution "is necessary to be sustainable.

Asked about the fact that the president of Gestamp, Francisco José Ribera, has bought shares of Telefónica, a company of which he is a director, worth nearly 25 million euros, Álvarez-Pallete said that "we see it as a sign of trust and thus encourages us. "

"The truth is that we have an ambitious plan and now what we have to do is execute it, and what we want is that in the coming months the effort we are making is reflected," he added.

Telefónica has just launched an action plan to transform the company, which seeks to prioritize investments in its strategic markets (Spain, Brazil, Germany and the United Kingdom), and create a new unit for the rest of its market in Latin America, in where the corporate does not grow and is open to everything.

In addition, Telefónica has created a new digital unit, which aims to generate more than 2,000 million euros in additional revenue in 2022.

According to Álvarez-Pallete, this plan "is being well received both internally and externally", a reorganization that "some have described as a revolution, and now we have the challenge of executing it and putting it into practice and that is something that motivates us a lot "

The president of Telefónica, who took advantage of his stay in New York to speak with infrastructure investors for Infra, has expressed his "concern about the digital transition, which must be the same as with climate change, in all areas."

"Every time there has been a revolution there has been that challenge; we want the digital transition to be not only technological, but also values, with a social contract," a rules for data management, "with security and control."

In this sense, he has spoken of the need for a kind of "digital constitution", of a new pact that makes the digital revolution "sustainable".

. (tagsToTranslate) President (t) Telefonica (t) trust (t) revolucion (t) company

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