Telefónica has approved new changes to the various chapters that distinguish Peru as well as the legal presidency of the Central American Execution Company.
The Peruvian company has created executive presidential office, integrating presidential and executive positions, as is the case in other countries. Teleco has chosen this post as Pedro Cortez. Since 2006, the first director in the country was Javier Manzanares. Peru is the historic country of Telefónica, which accounts for about 5% of the group's income. Cortez has been Telefónica for more than 20 years and before returning to Peru in early 2018, he was the ultimate controller for teleco in Venezuela, which is probably the group's most difficult due to the market economy and social crisis.
Telefónica del Perú, which faced increasing competition this year (revenue dropped by 4.3% in the third quarter), is waiting for the renewal of the fixed telephony license from 2027 until 2032.
The operator's advice was created by Cortez himself with José María del Rey Osorio, director of Telefónica Brasil; Former Telefónica Director Alfonso Ferrari and Gonzalo Hinios; and Bernardo Quinn, South American South Executive Director and member of parent company executive committee.
In addition, the company has reinstated the Telefónica Centroamérica Inversiones Board of Directors, with the appointment of Juan José Haro Seija as new President, replacing Javier Ariza. Haro is the company's senior manager, regulator specialist. Elena Maestre, Telefónica Management Managing Director, has also joined the Board.
According to the operator, the appointment of Seija is legal, not the executive body. Central American companies are part of the Hispanoamérica Norte division, headed by Alfonso Gómez del Palacio. Telefónica Centroamérica Inversiones is a holding company with subsidiaries in Panama, Guatemala, El Salvador and Nicaragua.
Last week, Telefónica announced changes to its board of directors in Brazil after leaving Ramiro Sánchez de Lerín.
The market continues to speculate on the possible sale of Telefónica Centroamérica. Among the candidates is Millicom. Lately conference call with analysts and before the issue of possible sales, Angel Vilá, the group leader, refused to comment and confirmed that the development was good. Telefónica sold 40% of this deal to Corporación Multinversiones in 2013 for € 380 million.