Market
What will be the composition of Telefónica's top three shareholders by December 31, 2025?
2
Resolution / Starting Odds
SEPI, STC, and another entity • 25%
SEPI, STC, and a new investor • 25%
SEPI, STC, and a current minor shareholder • 25%
SEPI, STC, and no change • 25%
Telefónica's shareholder reports or major financial news outlets
Story
SEPI Proposes Indra's Marc Murtra to Replace José María Álvarez-Pallete at Telefónica Amid 23 Million Euro Severance
Jan 18, 2025, 11:14 AM
Spain's government, through the state-owned Sociedad Estatal de Participaciones Industriales (SEPI), has initiated the process to replace José María Álvarez-Pallete as the president and CEO of Telefónica SA. The proposed successor is Marc Murtra, currently the president of Indra, a move that has been set to be discussed in an extraordinary board meeting. Álvarez-Pallete, who has led Telefónica since April 2016, is expected to receive a severance package of approximately 23 million euros upon his departure, in addition to over 12 million euros from his pension plan. Murtra, appointed to Indra's presidency in 2021 by the government, is poised to resign from his current position in the coming days to take up the new role at Telefónica. The change comes amidst shifts in Telefónica's shareholder composition, with SEPI holding a 10% stake and the Saudi Telecom Company (STC) also holding a significant share.
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Criteria Caixa becomes largest • 25%
Another entity becomes largest • 25%
STC becomes largest • 25%
SEPI remains largest • 25%
Focus on digital transformation • 25%
Other strategic focus • 25%
Cost-cutting and restructuring • 25%
Expansion into new markets • 25%
Decrease by 0-5% • 25%
Decrease by more than 5% • 25%
Increase by 0-5% • 25%
Increase by more than 5% • 25%
No decision made • 25%
Another candidate appointed • 25%
José María Álvarez-Pallete remains • 25%
Marc Murtra appointed • 25%
Pallete remains • 25%
Other outcome • 25%
Marc Murtra appointed • 25%
Francisco Reynés appointed • 25%
Decrease by more than 5% • 25%
Other • 25%
No significant change • 25%
Increase by more than 5% • 25%
4th to 6th • 25%
Top 3 • 25%
Below 10th • 25%
7th to 10th • 25%