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Domingo, 19 de enero 2025, 14:05
María Jesús Montero, the First Vice President of the Government and Minister of Finance, defended on Sunday that "it was time for the renewal" at Telefónica after the years of José María Álvarez-Pallete leading the company. She publicly congratulated him for his work and praised the "good manager" profile of the newly appointed executive chairman of the telecommunications company, Marc Murtra.
In her first press conference as the general secretary of the PSOE of Andalusia, held at the party's headquarters in Seville, the Vice President and Minister addressed journalists' questions regarding the leadership change at Telefónica, which was announced this past Saturday when the company communicated the departure of José María Álvarez-Pallete as chairman and announced the appointment of the former Indra chairman, Marc Murtra, to lead the company.
The corporate change occurred after the State Industrial Participation Society (SEPI), a public entity under the Ministry of Finance through which the Government holds a 10% stake in Telefónica, initiated the process of changing the company's chairman in the morning.
On this matter, María Jesús Montero began by asserting that "it is very important" for Spain to have "a technology company capable of competing in a strong, highly competitive European and international market." She noted that this motivated "the Government of Spain, at the time, to decide to strengthen Telefónica by increasing its stake in this company," which was public but was privatized "during the times of the Popular Party" under the presidency of José María Aznar, she added.
In this vein, the Minister emphasized that "countries like Italy or Germany have significant stakes in their technology companies, also because these companies are increasingly responsible for national security, cybersecurity, and safeguarding our assets in terms of defense." She highlighted that "Telefónica must also play a fundamental role."
"Once that step was taken, the company is in a process of renewing its own leadership. It was time for renewal, and therefore, what has been proposed by the majority shareholders is the ability to place someone like Marc Murtra at the helm, who has demonstrated his potential in a company as important as Indra, where the stock has significantly appreciated during his tenure," she emphasized.
In this context, the Minister of Finance highlighted that "the professional profile, as a good manager," of Marc Murtra is undeniable. She congratulated him on his appointment at Telefónica, extending her congratulations to Álvarez-Pallete for his work leading the company during a "very important period," she noted.
Having said this, María Jesús Montero stated that "in all organizations, the succession we must undertake is very important to continue progressing and to maintain dynamism."
Similarly, the Minister of Finance confirmed that "now the process at Indra begins" to replace Marc Murtra as chairman. She explained that this Sunday "the company's board of directors and the appointments committee will meet," and although she did not want to anticipate who will be chosen as the new chairman of Indra, she indicated that "the names being considered for this role are also people of recognized prestige in the industrial and leadership fields, such as the Escribano company, which is very important."
"But the pace and timing must be set by Indra itself, so this afternoon we will know the name of the new top representative," concluded the Vice President and Minister of Finance.
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