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The Board of Directors of Telefónica has today appointed Cesar Mascaraque as a director of Telefónica by co-optation, unanimously by its members and at the proposal of the Nominating and Compensation Committee. As a result, Telefónica’s Board of Directors goes from eight to nine directors in the category of Independent, which represents 60% of its total composition.

Mascaraque has an extensive professional career of more than 25 years as an entrepreneur and businessman in the technology sector at an international level. He holds a degree in industrial engineering from the Barcelona School of Industrial Engineering and a Master’s degree in Business Administration (MBA) from Harvard Business School, and is currently an independent director of the Board of Directors of Telefônica Brasil S.A.

Mascaraque founded Finexia Ltd in the UK, an online financing platform for SMEs. After its sale in 2003, he joined Google Inc. as head of business development for Southern Europe and emerging markets. In 2008 he joined IAC Search & Media Ltd as Managing Director of its operations in Europe. In 2012 he founded BPM Marketing Ltd, a leading company in the development and marketing of artificial intelligence tools for digital marketing.

Throughout his professional career, he has been non-executive chairman of Media Response Group in Spain and Brazil, member of the advisory board of Seaya Ventures in Spain and member of the board of MedicAnimal Ltd and Geocast Ltd in the United Kingdom.

Mascaraque replaces Javier de Paz who, after 18 years as a member of the Board of Directors of Telefónica S.A., has voluntarily resigned from his position as a director to perform executive functions in the Telefónica Group, as Deputy Director to the Chairman, responsible for Infrastructure, Real Estate Assets and Corporate Social Responsibility. He will also retain the non-executive Presidency of Movistar Plus +.

Likewise, Ana María Sala Andrés has been appointed president of Telefónica’s Sustainability and Regulation Committee, replacing Javier de Paz.

Guillermo Ansaldo, head of Infrastructure to date, will remain in the group supporting the transition and as advisor in the infrastructures’ field.