June 24, 2021

Telefónica reinforces the Strategy and Public Affairs Department after the departure of Enrique Lloves


Madrid

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The board of directors of Telefónica has given the green light to changes in the executive committee of the Spanish multinational after the departure of Enrique Lloves, who have remembered since the Spanish firm has been for “personal motives”. In this regard, they have announced the creation of the new Directorate of Strategy and Public Affairs that will be under the responsibility of Eduardo Navarro. This executive will add to his responsibilities in Communication, Brand, Public Affairs and Sustainability the direction of the Global Strategy and that of Investor Relations.

From Telefónica they have pointed out that the new direction «seeks to unify under the same responsibility lto company strategy and the way it moves to different interest groups ». On the other hand, Laura Abasolo who leads the Finance and Control Department will assume the functions of Corporate Development and Fonditel. Similarly, the management of Industrial Alliances will also assume Telefónica Tech under the responsibility of José Cerdán, with the objective of «Promote agreements with other operators for the distribution of the digital services of Telefónica TEch ».

In this regard, the direction of the Spanish multinational has also wanted to thank Enrique Lloves Your contribution and contribution to the company. In this regard, they recalled that Lloves was responsible for Strategy and Corporate Development of Telefónica and Fonditel.

Along these lines, this former executive has led the divestment of Telefónica’s operations in Central America, the sale of the data centers, the agreement with AT&T in Mexico, the joint venture with Prosegur, and actively participated in the design of the new strategy presented in November last year.

With more than 12 years at Telefónica, he has led strategic acquisitions for the group such as GVT, E-Plus or Digital + and divestments such as Atento, Telefónica’s operations in the Czech Republic and Ireland or the processes of incorporating financial partners into Telxius capital. In addition, he has participated in the IPO of Telefónica Deutschland, as well as in the merger and corporate restructuring of the fixed and mobile operations of Telefónica in Colombia.

The Telefónica Board wishes to thank Enrique Lloves for his great contribution, his years of dedication and his demonstrated contribution to the Company.

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