Telefonica splits its Latin American business into two units

Telefonica announced plans to split its Latin American business into two units, as part of a wider corporate restructuring designed to simplify its operations and “adapt it to a digital world”.

In a statement, Telefonica said the plans will be proposed to the board of directors on January 31st and the move will see its Latin American operations split into two new units “to allow a more effective management of different situations”.

If approved by the board, the changes will see Telefonica establish one unit for its operating businesses in Argentina, Chile, Peru, and Uruguay, to be headed up by its current director of human resources Bernardo Quinn.

The second unit will encompass operations in Colombia, Mexico, Central America, Ecuador, and Venezuela, and will be led by Alfonso Gómez Palacio.

In Spain, the company named Emilio Gayo as its new Executive Chairman of the unit, replacing Luis Miguel Gilperez.