The board of directors of Telefónica has approved changes in the company's executive committee following the departure of Enrique Lloves, motivated by personal reasons. In this way, the new Directorate of Strategy and Public Affairs is created under the responsibility of Eduardo Navarro, which will add to its current responsibilities of Communication, Brand, Public Affairs and Sustainability, the direction of the Global Strategy and that of Investor Relations of the group. With this new direction, it is pursued to unify the company's strategy and the way in which it is transferred to the different interest groups under one responsibility, the company said
On the other hand, the functions of Corporate Development and Fonditel become dependent on the Finance and Control Department, led by Laura Abasolo. The management of Industrial Alliances will be included in Telefónica Tech, under the responsibility of José Cerdán, to promote agreements with other operators for the distribution of Telefónica Tech digital services. All in line with the strategy announced last November.
Enrique Lloves has been responsible for Strategy and Corporate Development of the company and Fonditel. Recently, he has led the divestment of Telefónica's operations in Central America, the sale of data centers, the agreement with AT&T in Mexico, the joint venture with Prosegur, and actively participated in the design of the new strategy presented in November of the year past.
Throughout his 12 years at Telefónica, he has led strategic acquisitions for the group such as GVT, E-Plus or Digital + and divestments such as Atento, Telefónica's operations in the Czech Republic and Ireland or the processes of incorporating financial partners into the Telxius capital. In addition, it has participated in the IPO of Telefónica Deutschland, as well as in the merger and corporate restructuring of Telefónica's fixed and mobile operations in Colombia.
Reduces losses in Germany and benefits in Brazil
Telefónica has closed 2019 with a 7.9% reduction in losses in its German subsidiary, which has shown a "strong growth" in customers, revenues and profitability, while in Brazil the operator has registered a 44% decrease in its profit net, up to 5,001 million reais (1,060 million euros) due to the impact of extraordinary elements.
Specifically, Telefónica Deutschland closed 2019 with losses of 212 million euros, which is 7.9% less than the 230 million euros it lost in 2018. The company explains that the behavior of this item is related, as up to now, with the depreciation and amortization times of network assets during the integration of E-Plus.
For its part, Telefónica Brasil obtained a net profit of 5,001 million reais (1,060 million euros) in 2019, representing a decrease of 44% compared to a record 8,928 million reais (1,892 million euros) which He won the previous year for extraordinary.
Specifically, Telefónica Deutschland's revenues for the whole of the year reached 7,399 million euros, 1.1% more than the 7,320 million euros billed the previous year. Excluding regulatory effects, the increase in turnover in 2019 was 1.9%, to 7,458 million euros