Telefonica handed chief strategy and development officer Juan Azcue responsibility for the company’s financial operations, part of a corporate shuffle which will see CFO Laura Abasolo depart at the end of the year.

Azcue takes the title of chief financial and corporate development officer. The company’s group controller and planning director Ernesto Gardelliano will assume the role of chief strategy and control officer.

Telefonica explained combining finance leadership with corporate development would enable it to face “upcoming challenges with a more global and cohesive vision”.

Azcue was credited with extensive experience in M&A and has been on the operator’s executive committee since the start of 2025.

Abasolo is set to leave after more than 20 years with the company: she was appointed CFO in 2017.

The move is the latest in a shake-up at the operator group driven by CEO Marc Murtra during his first year at the helm.

Telefonica noted the latest changes reinforce a “commitment to excellence and innovation, evolving its operating model” to ensure the success of a strategic plan presented last month.

Listings
In a separate announcement also made yesterday (17 December), Telefonica detailed its intention to delist American depositary shares from both the New York Stock Exchange (NYSE) and Lima Stock Exchange in Peru.

The move to quit the NYSE listing came after an analysis “taking into account the administrative burden” and associated costs. It noted it is consistent with the new strategic plan to simplify its operating model.