• Telefónica’s board moved to simplify the Spain operating model to capture synergies, speed decisions, scale digital services, target B2B, residential growth.
• Support functions in Spain shifted into group corporate areas under Executive Chairman Marc Murtra, aiming to cut duplication, streamline execution.
• Spain reorganized into three independent business units: B2B Spain, B2C Spain, Wholesale Spain; legal entities unchanged, external financial reporting unchanged.
• Movistar Plus board eliminated; Javier de Paz stepped down as non-executive chair, taking European business continuity, development responsibilities.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Telefónica SA published the original content used to generate this news brief on September 30, 2026, and is solely responsible for the information contained therein.