Telefonica announced plans to split its Latin American business into two units, as part of a wider corporate restructure designed to simplify its operations and “adapt it to a digital world”.
In a statement, Telefonica said the plans will be proposed to the board of directors tomorrow (31 January) and the move will see its Latin American operations split into two new units “to allow a more effective management of different situations”.
If approved by the board, the changes will see Telefonica establish one unit for its operating businesses in Argentina, Chile, Peru and Uruguay, to be headed up by its current director of human resources Bernardo Quinn.
The second unit will encompass operations in Colombia, Mexico, Central America, Ecuador and Venezuela, and will be led by Alfonso Gomez Palacio. The executive served as CEO of Telefonica Colombia since November 2016 and will be replaced by Fabian Hernandez, who worked as director of public affairs and regulation in the country.
Telefonica’s Latin American operations have traditionally operated as a single entity, with home market Spain operating separately.
In Spain, the company named Emilio Gayo as its new executive chairman of the unit, replacing Luis Miguel Gilperez. Director of southern Spain Maria Jesus Almazor, meanwhile, will also occupy a new role as COO of Telefonica’s Spanish operations.
Other corporate changes announced by the company include unifying the areas of general counsel and public affairs & regulation into one division.
Jose Maria Alvarez-Pallete, Telefonica group executive chairman, said changes in the organisation’s structure will “help simplify the company and make it more agile, with definitive focus on management, customer service, growth, efficiency and profitability”.