Telefonica Names Pallete Chairman, CEO After Alierta Quits

  • Pallete takes over as company seeks to revive domestic unit
  • Board also nominates four new members to fill vacancies

Telefonica SA’s board named Jose Maria Alvarez-Pallete chairman and chief executive officer, ending his mentor Cesar Alierta’s reign of almost 16 years at the helm of Spain’s former phone monopoly.

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