Álvarez-Pallete now Chairman of VMO2 Board
June 2, 2023
The Chairman of Telefónica, José María Álvarez-Pallete, has taken from as Chairman of the Board of Directors of VMO2, replacing Liberty Global CEO Mike Fries.
This replacement responds to the agreement established in the creation of the joint venture resulting from the merger between Virgin Media (Liberty Global) and O2 (Telefónica), by virtue of which the chairmanship of the Board will rotate every two years between the two companies. Fries will remain a member of the VMO2 Board.
Telefónica and Liberty Global announced the integration of their two UK subsidiaries in May 2020 to create a leading operator in the UK market. The deal, the largest in Telefónica’s almost century-long history, closed on June 1st 2021.