TDE.L Regulatory News (TDE)

TELEFÓNICA, S.A. (hereinafter "Telefónica"), as provided in article 228 of the Spanish Stock Market Act (Ley del Mercado de Valores), hereby reports the following

SIGNIFICANT EVENT

Telefonica's Board of Directors, at its meeting held today, has agreed to appoint Mr. José María Álvarez-Pallete López as Chairman of the Board of Directors and of the Executive Commission, replacing Mr. César Alierta Izuel, who will remain in the Board of Directors of the Company as a member, although he will not remain as member of the Executive Committee. Moreover Mr. César Alierta maintains his position as Executive Chairman of Fundación Telefónica.

The Board of Directors has appreciated Mr. Alierta for his extraordinary effort and commitment and the excellent services provided during his tenure as Executive Chairman of the Telefónica.

See attached Press Release.

http://www.rns-pdf.londonstockexchange.com/rns/6743U_-2016-4-8.pdf 

Madrid, April 8, 2016.