REG - Telefonica SA - Changes composition Board of Directors <Origin Href="QuoteRef">TEF.MC</Origin>

Telefonica SAAnnouncement

04/05/2017 14:10

RNS Number : 2241E
Telefonica SA
04 May 2017
TELEFNICA, S.A. (herein after "Telefnica") as provided in article 228 of the Spanish Stock Market Act (Ley del Mercado de Valores), hereby reports the following
SIGNIFICANT EVENT
TELEFNICA, S.A. 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 Telefnica, S.A. and its Committees:
- To reduce the number of members of the Board of Directors.
- To take formal note and record the voluntary resignations presented to their respective positions as members of the Board of Directors of Telefnica, S.A. by Mr.Csar Alierta Izuel, , Mr. Gonzalo Hinojosa Frnandez de Angulo and Mr. Pablo Isla lvarez de Tejera, thanking them for their many years of work and collaboration with the Telefnica Group and, in particular, for the services rendered during their tenures.
- To appoint by co-optation Ms. Carmen Garca de Andrs and Mr. Francisco Jos Riberas Mera as Independent Directors, upon the proposal of the Nominating, Compensation and Corporate Governance Committee. 
- To submit for approval of the shareholders at the General Shareholder's Meeting: (i) the re-election of Mr. Jos Mara Alvarez-Pallete Lpez and Mr. Ignacio Moreno Mrtinez as Directors of the Company, (ii) the ratification and appointment of the new Independent Directors, Ms. Carmen Garca de Andrs and Mr. Francisco Jos Riberas Mera, and also (iii) the reduction of the number of members of the Board of Directors to seventeen, in accordance with the good governance recommendations and the international trends. 
- Likewise, it was resolved to appoint: (i) Ms. Carmen Garca de Andrs as member of the Audit and Control Committee and (ii) Mr. Jose Javier Echenique Landiribar and Mr. Luiz Fernando Furln, all of whom are Independent Directors, as members of the Nominating, Compensation and Corporate Governance Committee.
Madrid, May 4, 2017

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