stc’s Olayan Alwetaid and Ana María Sala join board of directors, with Carlos Ocaña as new vice-chairman, bringing the board back to 15 members with 40% women
Telefónica’s board has “unanimously approved” Olayan Alwetaid and Ana María Sala as new directors of the company.Alwetaid joins the Board as proprietary director, representing the shareholder Green Bridge Investment Company SCS/stc Group. His appointment fills the vacancy arising from the death of Vice-chair José Javier Echenique last December.
Olayan Alwetaid’s background is in executive management with more than 20 years’ experience in telecoms, media and tech. He has been CEO of Saudi Telecom Group, the biggest mobile operator in the Middle East, since March 2021. Prior to that he held senior roles within the operator. He pioneered expanding the “value proposition” around mobile and fixed connectivity, smartphones and devices, digital media, financial services and direct carrier billing for many leading services.
Francisco José Riberas voluntarily resigned his position as director of Telefónica ahead of his term expiring on 23 April. Ana María Sala will fill the place as an independent director. She has a degree in Law from the Universidad Autónoma of Barcelona; Master’s Degree in Comparative Law from the Universidad Autónoma of Barcelona; LL.M. University of California at Berkeley (USA); and a PhD in Law from the Pompeu Fabra University of Barcelona and is an assistant professor at Pompeu Fabra University and director of Law Studies at the Universidad Virtual UOC of Barcelona.
She joined Cortés Abogados in 2005 and has been a partner of the firm since 2014. She is the author of books and publications on Commercial Law.
Telefonica says these changes mean the Board of Directors now has its full complement of 15 members, with 40% of the board women and a majority of independent directors.
New vice chair and committee members
The board appointed Director Carlos Ocaña as the new Vice-Chairman of the Board of Directors of Telefónica.
The Council has also appointed María Luisa García Blanco as a member of the Executive Commission; Carlos Ocaña as member of the Nominating, Compensation and Corporate Governance Committee; and Ana María Sala as a member of the Sustainability and Regulation Committee to replace María Luisa García Blanco.