Business · Companies · 4 hrs ago
Telefónica leaders meet in Brazil to review growth plan ahead of election
Telefónica’s top leaders gathered in São Paulo to review the company’s strategy, Transform and Growth, launched a year ago.
The meeting brought together almost all of the Spanish telecom group’s executive team and board, while its Brazilian unit is led by Christian Gebara.
They assessed progress, remaining goals and investor views after a recent reorganisation of the company’s operations.
The meeting took place days before Brazil’s presidential run-off between Luiz Inácio Lula da Silva and Flávio Bolsonaro.
Brazil is Telefónica’s fastest-growing market, and its local business generated 31.7% of group revenue and 38% of its operating profit in the last financial year.
The election result matters to telecom companies seeking clearer rules for spectrum auctions, network sharing and public investment in wider service coverage.
Telefónica’s leadership will continue assessing its strategy, while Brazil’s voters choose their next president on Sunday.
Telefónica president Marc Murtra brought nearly all of the company’s senior executives and board to São Paulo for a special meeting.
They reviewed progress on the company’s Transform and Growth plan, launched 12 months ago.
The meeting took place days before Brazil’s presidential election, a contest between Flávio Bolsonaro and incumbent Luiz Inácio Lula da Silva.
Brazil is Telefónica’s fastest-growing market, accounting for 31.7% of group revenue in the last financial year.
The Brazilian operation contributed 38% of Telefónica’s Ebitda, the company’s measure of operating profit.
- Who
- Telefónica president Marc Murtra and nearly all of the company’s senior executives and board members.
- What
- They met to review the execution of Telefónica’s Transform and Growth plan.
- When
- Wednesday, days before Brazil’s presidential election on Sunday.
- Where
- São Paulo, Brazil.
- Why
- To assess the plan’s progress, goals and investor perception. Brazil is also a major growth market for Telefónica.
This story does not have two clearly opposing sides.
Telefónica launched its Transform and Growth plan.
Murtra became Telefónica president.
Telefónica’s executives and board members met in São Paulo to review the plan.
Brazilian voters were due to choose a president between Flávio Bolsonaro and Luiz Inácio Lula da Silva.
- Meeting location
- São Paulo, Brazil
- Plan
- Transform and Growth, launched 12 months earlier
- Brazil share of Telefónica revenue
- 31.7% in the last financial year
- Brazil share of Telefónica Ebitda
- 38%
- Brazil revenue growth
- 7.5% in the last financial year