Reported about 11 hours ago
State-owned investment fund SEPI has suggested replacing Telefonica's CEO, Jose Maria Alvarez-Pallete, with Marc Murtra, the current executive chairman of defense firm Indra. The decision will take place in an upcoming board meeting and must be ratified by shareholders. This change comes as Telefonica faces competitive pressures and financial challenges in the market while the Spanish government seeks to strengthen its influence in the telecom sector.
Source: YAHOO