Telefónica has approved new changes in various divisions, including prominent Peru, as well as the legal presidency of the Central American parent company.
In Peru, the company has created an executive presidential figure, integrating the position of president and CEO, as happened in other countries. Teleco has chosen Pedro Cortez for the post. Since 2006, the country's first director was Javier Manzanares. Peru is a historic country for Telefónica, which accounts for around 5% of group income. Cortez has been with Telefónica for more than 20 years and before returning to Peru, in early 2018, he was the party responsible for teleco in Venezuela, perhaps the most troubled market for the group because of the economic and social crisis.
Telefónica del Perú, which has faced increasing competition this year (revenue fell 4.3% in the third quarter), is awaiting renewal of fixed telephone licenses for the period between 2027 and 2032.
The operator's board of directors was formed by Cortez himself, along with José María del Rey Osorio, also director of Telefónica Brasil; the former director of Telefónica itself, Alfonso Ferrari and Gonzalo Hinojosa; and Bernardo Quinn, CEO of the current South South American Division and member of the parent company executive committee.
In addition, the company has updated the Telefónica Centroamérica Inversiones board of directors, with the appointment of Juan José Haro Seijas as the new president, replacing Javier Ariza. Haro is a senior manager of the company, a specialist in regulation. Elena Maestre, director of Management of Control at Telefónica, has also joined the council.
According to operators, the appointment of Seijas is legal and not executive. Central American business is included in the Hispanoamérica Norte division, led by Alfonso Gómez del Palacio. Telefónica Centroamérica Inversiones is a holding company where subsidiaries in Panama, Guatemala, El Salvador and Nicaragua depend.
Last week, Telefónica announced changes to the board of directors of a subsidiary in Brazil, with the departure of Ramiro Sánchez de Lerín.
On the market, speculation continues with the possibility of selling Telefónica Centroamérica. Among prospective Millicom figures. Recently conference call with analysts, and before questions about possible sales, Angel Vilá, the CEO of the group, was dumped to comment, and confirmed that evolution was good. Telefónica sold 40% of this business in 2013 to 380 million euro Corporación Multinversiones.