Telefónica Announces Board Reshuffle

Telefonica SA (TEF) has released an update.

Telefónica S.A. has announced the resignation of Ms. Carmen García de Andrés from its Board of Directors for personal reasons, expressing gratitude for her contributions. To fill the vacancy, Mr. Carlos Ocaña Orbis has been appointed as Proprietary Director and to the Executive Commission and Audit and Control Committee, backed by a positive report from the Nominating, Compensation and Corporate Governance Committee.

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