8 Apr 2016 13:31
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TELEF脫NICA, S.A. (hereinafter "Telef贸nica"), as provided in article 228 of the Spanish Stock Market Act (Ley del Mercado de Valores), hereby reports the following
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SIGNIFICANT EVENT
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Telefonica's Board of Directors, at its meeting held today, has resolved to adopt the following resolutions in connection with the composition of the Board of Directors of Telef贸nica, S.A. and its Committees:
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- To take formal note and record the voluntary resignation presented to their respective positions as members of the Board of Directors of Telef贸nica, S.A. by Mr. Carlos Colomer Casellas, Mr. Alfonso Ferrari Herrero, Mr. Jos茅 Fernando de Almansa Moreno-Barreda and Mr. Santiago Fern谩ndez Valbuena acknowledging many years of work and collaboration with the Telef贸nica Group and, in particular, for the services rendered during their tenures.
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- Likewise and in other to cover the abovementioned vacant positions, to appoint by co-optation, Ms. Sabina Flux脿 Thienenmann, Mr. Jos茅 Javier Echenique Landiribar, Mr. Peter L枚scher and Mr. Juan Ignacio Cirac as Independent Directors, upon the proposal of the Nominating, Compensation and Corporate Governance Committee. Moreover, their ratification and appointment has been proposed, as Independent Directors of Telef贸nica, S.A聽to the next General Shareholders Meeting.
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- With the abstention of the Executive Chairman and on a proposal of the Nominating, Compensation and Corporate Governance Committee, to appoint as Coordinating Independent Director ("Lead Director"), Mr. Francisco Javier de Paz Mancho.
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- Moreover, it has agreed to appoint: (i) member of the Executive Commission the Independent Director Mr. Jos茅 Javier Echenique Landiribar; (ii) Chairman of the Audit and Control Committee, Independent Director Mr. Jos茅 Javier Echenique Landiribar; (iii) member and Chairman of the Nominating, Compensation and Corporate Governance Committee, Independent Director Mr. Francisco Javier de Paz Mancho.
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Madrid April 8, 2016.
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