Spain's Telefonica appoints Emilio Gayo as operations chief
Gayo, 59, joined Telefonica in 2004 and has run its Spanish business since 2018.
He replaces Angel Vila, who had been in the post since July 2017. Vila is set to take on a role as an adviser to Murtra, the company said in a regulatory filing. Vila will also remain on the board of Britain's Virgin-Media O2 and join the board of Germany's Telefonica Deutschland, according to the filing.
Gayo will also oversee Hispam, Telefonica's umbrella unit for Latin America that was until now the remit of Chief Financial Officer Laura Abasolo.
Telefonica also named Borja Ochoa as the new head of Telefonica Spain and Sofia Collado to spearhead Telefonica Tech. Both executives come from defence and IT company Indra (IDR.MC), opens new tab, of which Murtra was CEO between 2021 and 2025.
Murtra, whose appointment in January was met with accusations of political meddling by the Spanish government, has ordered a strategic review before the end of this year and called for the sector's consolidation in Europe to gain "strategic autonomy".
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
16 minutes ago
- Daily Mail
Barcelona 'take emergency financial action to register Marcus Rashford' in time for new LaLiga season - with Man United loan star 'not eligible' to play
Barcelona 's board have reportedly agreed to take drastic emergency action in a bid to register their summer signings in time for the start of the new LaLiga campaign, which starts in just three days. Marcus Rashford, who secured his exit from Manchester United by joining the Catalan giants on loan last month, is one of two new signings currently ineligible to play for Barcelona during the 2025-26 season, along with goalkeeper Joan Garcia. As the Spanish champions have been overspending on their wage bill, which is restricted by LaLiga in accordance to each club's revenue, Barcelona are unable to register any new players. In an effort to tackle overspending in other sporting departments - and thus ease the salary situation - Barcelona's executives have put their own personal wealth at risk as part of a bank guarantee worth €7million (£6m, $8.2m), according to The Athletic. The Catalans also took the drastic action in December 2023 for the same reason. Like Rashford and Garcia, returning goalkeeper Wojciech Szczesny and defender Gerard Martin, who will now be part of the first team rather than reserves, risk sitting on the sidelines until the winter transfer window opens in January. According to Barcelona sources, there is still an expectation around the club that all players will be registered. The Spanish giants are also waiting to be informed by La Liga whether they can take advantage of Marc-Andre ter Stegen's back injury to register a new player, with the goalkeeper set to be out for approximately three to five months. However, it is believed Rashford would not benefit from this decision, with Barcelona reportedly keen to register Garcia, who joined in June, in place of Ter Stegen ahead of the former Manchester United exile.
Reuters
an hour ago
- Reuters
Walmart broadens 10% staff discount to include most grocery products, WSJ reports
Aug 13 (Reuters) - Walmart (WMT.N), opens new tab has expanded its 10% employee discount to nearly all of its grocery items, as the retail giant looks to retain workers, the Wall Street Journal reported on Wednesday, citing a letter from chief people officer to the company's staff. The 10% discount, previously available on products such as fresh produce and general merchandise, now extends to almost all grocery purchases at its stores and online, effective immediately, according to the report. Walmart, the largest private employer in the country, did not immediately respond to a Reuters' request for comment.
Reuters
an hour ago
- Reuters
Dollar extends weakness as anticipation mounts of Fed interest rate cut
NEW YORK, Aug 13 (Reuters) - The dollar fell for a second straight session on Wednesday, a day after a U.S. inflation reading increased expectations of a Federal Reserve rate cut next month, and renewed pressure from President Donald Trump for lower rates added to the sell-off. The dollar index , measuring the currency against a basket of peers, fell 0.2% to 97.81, its lowest since July 28, extending its 0.5% drop on Tuesday. U.S. consumer prices increased marginally in July, data showed on Tuesday, in line with forecasts and as the pass-through from Trump's sweeping tariffs to goods prices has so far been limited. Investors priced in a 98% chance the central bank would ease rates next month, according to LSEG data. On Wednesday, Treasury Secretary Scott Bessent called for a "series of rate cuts," and said the Fed could kick off the policy rate easing with a 50 basis point cut. The day before, U.S. President Donald Trump, who has repeatedly criticised Fed Chair Jerome Powell for not easing rates sooner, had added to the pressure on the Fed. White House spokeswoman Karoline Leavitt said that the president was considering a lawsuit against Powell in relation to his management of renovations at the central bank's Washington headquarters. "I think there is quite significant pressure on the Fed from the political side of Washington to get moving on interest rates," Shaun Osborne, chief currency strategist at Scotiabank, said. Michael Pfister, FX analyst at Commerzbank, said these political developments carried echoes of autocratic countries, where heads of statistics agencies or central banks are replaced and critical data series often discontinued or manipulated. "I'm not saying that this will necessarily happen here. But the developments of the last few days and weeks do not exactly fill me with optimism about the future, or the U.S. dollar," Pfister said. Trump also hit out at Goldman Sachs (GS.N), opens new tab CEO David Solomon, saying the bank had been wrong to predict U.S. tariffs would hurt the economy. Trump questioned whether Solomon should lead the Wall Street institution. The dollar's weakness supported the euro and sterling . The single currency was last up 0.3% to $1.1705, briefly hitting its highest since July 28. Similarly, the British currency rose 0.5% to $1.3572, briefly hitting its highest since July 24. Britain's jobs market weakened again, though wage growth stayed strong, according to data on Tuesday, underscoring why the Bank of England is so cautious about cutting interest rates. The Australian dollar was up 0.3% to $0.6550, while the New Zealand dollar rose 0.5% to $0.5982. The Reserve Bank of Australia on Tuesday cut interest rates as expected, and signalled further policy easing might be needed to meet its inflation and employment goals as the economy lost some momentum. In cryptocurrencies, ether scaled a nearly four-year high of $4,734.47. "Ethereum's quiet breakout is being fuelled by real-world adoption and capital confidence," said Gracie Lin, Singapore CEO of crypto exchange OKX. "On our platform, ETH has now overtaken BTC as the most traded asset over the past month."
