In a measure approved urgently by the SEPI, Álvarez-Pallete leaves the company of which he was appointed president in 2016, but not without a large compensation of up to 23.5 million euros.
In a movement that marks a turning point in the history of Telephonethe Board of Directors approved this Saturday, January 18, 2025, the replacement of the company’s presidency. Marc Murtracurrent president of Indra, will take the reins of the operator to replace José María Álvarez-Palletewho has been at the head of Telefónica since April 2016.
This strategic decision has been driven by the State Society of Industrial Participations (SEPI)which recently reached a 10% stake in the company after an investment of 2,284 million euros. The change in management occurs in a context marked by the recent entry of the Saudi telecom STCwhich acquired 9.9% of Telefónica’s share capital in September 2023 for 2.1 billion euros.
Álvarez-Pallete’s departure occurs in the midst of a complex stock market scenario for the company. During his mandate, Telefónica’s stock experienced a 60% dropgoing from 9.31 euros in April 2016 to 3.97 euros at the close of last Friday. This decline has occurred despite the fact that the company has managed to maintain recurring profits and reduce its debt by 50%.
Who is Marc Mutra?
Marc Murtra Millarthe British-Spanish executive who will assume the presidency of Telefónica, brings with him a solid track record in technology and public management. Born in 1972 in Blackburn, United Kingdom, his appointment marks a new chapter in the history of one of the largest telecommunications companies in Spain.
With a outstanding academic trainingMurtra graduated as an industrial engineer from the Polytechnic University of Barcelona, specializing in Machine Mechanics. His education includes an MBA from the prestigious New York University, credentials that support his ability to lead large corporations.
His professional experience It covers both the public and private sectors. He began his career in 1996 at Great British Nuclear, where he developed his first experiences in business management. Subsequently, his time at DiamondCluster as a strategic consultant allowed him to work with important technology companies, consolidating his expertise in the sector.
He political and public management profile de Murtra includes relevant positions such as chief of staff at the Ministry of Industry during the period 2006-2008under the mandate of Joan Clos, and the general management of Red.es. This experience in public administration has provided him with a deep understanding of the intersection between the public and private sectors.
In it business fieldhighlights his role as founding partner of CREA Inversión and his subsequent work at Closa Investment Bankers. His most significant appointment came in 2021, when he assumed the Indra presidencybecoming the third president of this important Spanish technology and security company.
Currently, Murtra maintains a outstanding presence in the corporate world as a trustee of the La Caixa Foundation, independent director of Ebro Foods and member of the board of directors of ITP Aero. He complements these responsibilities with his academic work as an associate professor at Pompeu Fabra University, where he has taught Financial Management and Financial Economics since 2017.
His appointment as the new president of Telephoneproposed by the State Society of Industrial Participations (SEPI), marks a crucial moment in his professional career and in the future of the telecommunications company. This appointment comes at a strategic time for Telefónicacoinciding with the expiration of the mandate of José María Álvarez-Pallete, who has led the company since 2016.
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