Telefónica Restructuring Adds Digital Business, Global Focus

Telefónica announced a restructuring aimed at pursuing growth opportunities in digital services, streamlining its organization, and leveraging its global size to unlock economies of scale in network operations.


The three main changes in the new organisational structure are as follows:


New Telefónica Digital -- a new business unit that will be headquartered in London with regional offices in Madrid, Sao Paulo, Silicon Valley and certain strategic hubs in Asia. Its mission will be to bolster Telefónica's place in the digital world. This unit will comprise 2,500 employees from Telefónica's New Global Services Unit (vertical businesses), Terra, Tuenti, Jajah, Telefónica R+D and Media Networks, among others. Heading up this unit will be Mathew Key, who until now was in charge of Telefónica Europe. Activities will include video and entertainment, e-advertising, e-health, financial services, cloud and M2M.


Streamlining and Geographic balancing -- Operations in Spain will now be included with the rest of the company's European operations. José Mar�a �?lvarez-Pallete, head of Telefónica Latin America until now, will oversee Europe, while Santiago Fernández Valbuena, previously General Manager of Strategy, Finance and Corporate Development, will be in charge of Latin America. This change entails the addition of �?ngel Vilá to the Executive Committee as Head of Finance and Corporate Development.


New Global Resources -- this new operating unit will leverage Telefónica size to unlock economies of scale, as well as driving Telefónica's transformation into a fully global company. This unit will be overseen by Guillermo Ansaldo, until now the head of Telefónica Spain.


http://www.telefonica.com