Leading by example

To be able to lead by example, it is essential to build trust with our customers and suppliers. We thus prioritise customer and stakeholder demand, instilling from the outset responsible use of technology and our Corporate Governance principles.

Our Board of Directors in 2020

From left to right, seated on the bench, Mr José Javier Echenique Landiríbar, Vice-Chairman and Independent Director; Mr José María Abril Pérez, Vice-Chairman and Proprietary Director; Mr José María Álvarez-Pallete López, Chairman and Executive Director; Mr Isidro Fainé Casas, Vice-Chairman and Proprietary Director; and Mr Ángel Vilá Boix, Managing Director and Executive Director. From left to right, standing, Mr Antonio García-Mon Marañés, Vice-General Secretariat and of the Board; Ms Veronica Pascual Boé, Independent Director; Mr Juan Ignacio Cirac Sasturain, Independent Director; Ms Claudia Sender Ramírez, Independent Director; Mr Peter Löscher, Independent Director; Ms Sabina Fluxà Thienemann, Independent Director; Mr Peter Erskine, External Director; Mr Jordi Gual Solé, Proprietary Director; Ms María Luisa García Blanco, Independent Director; Mr Francisco José Riberas Mera, Independent Director; Ms Carmen García de Andrés, Independent Director; Mr Ignacio Moreno Martínez, Proprietary Director; Mr Francisco Javier de Paz Mancho, External Director; and Mr Pablo de Carvajal González, General Secretariat and of the Board.

The Board of Directors in 2020

29,4% WOMEN

International Diversity in our Board of Directors, members from Spain, UK, Brazil and Austria.

Remuneration linked to sustainability in 2021

Short-term variable compensation factors

  • Operational and financial targets
  • 30% OIBDA
  • 30% Operating income
  • 20% Free Cash Flow
  • 20% Non-financial targets linked to customer trust and ESG targets
  • 40% NPS
  • 25% Climate Change – GHG Emissions
  • 15% GAP NPS
  • 15% Trust from Society – REP Trak
  • 5% Gender Equality – % Women Executives

Long-term variable compensation factors

  • Operational and financial targets
  • 50% TSR Relativo
  • 40% Free Cash Flow
  • Non-financial targets linked to customer trust and ESG targets
  • 10% Neutralisation of CO2 emissions to reach net zero emissions by 2025

Sustainability governance

The Sustainability function is implemented at all levels of the company, ensuring both the programming of an ambitious agenda, structured through our Responsible Business Principles and the Responsible Business Plan, approved by the Board of Directors, and its execution through supervision, monitoring and implementation mechanisms at corporate and local level.

Responsible Business Management

The Responsible Business Principles are embodied in the various policies and regulations approved by the Board of Directors or by the Executive Committee, the most significant of which were approved and updated in 2020:


  • Compliance Function Policy (updated 2020)
  • Crime Prevention Policy (updated 2020)
  • Internal Rules of Conduct (updated 2020)
  • Compliance Function Policy (updated 2020)
  • Telecommunications Fraud Prevention and Management Regulation (adopted in 2020)

Privacy & Freedom of Expression

  • Global Privacy Policy
  • Personal Data Protection Governance Model Regulation
  • Rules of Procedure in response to Requests from Competent Authorities


  • Global Security Policy
  • Global Security Regulations (updated 2020)
  • Business Continuity Regulations
  • Incident and Emergency Management Regulations
  • Physical Security Regulations (updated 2020)
  • Security of Persons Regulations
  • Network and Communications Security Regulations
  • Change Management Regulations (updated 2020)
  • Regulations on the Classification and Processing of Information

Supply Chain

  • Supply Chain Sustainability Policy (updated 2020)
  • Supply Chain Sustainability Standard (updated 2020)
  • Low Carbon Procurement Instruction (updated 2020)
  • Procurement of Goods and Services Standard (updated 2020)
  • Supply Chain Security Regulations (updated 2020)

Human Resources

  • Protocol for Action in Situations of Workplace or Moral Harassment, Sexual Harassment and Discrimination
  • Occupational Health, Safety and Well-being Regulations
  • Diversity and Inclusion Policy

Responsible Communication

  • Communication of Information to Markets Standard (approved 2020)
  • Shareholder Communication Policy (updated 2020)
  • Responsible Communication Policy (updated 2020)
  • Social Media Regulations (updated 2020)

Environmental Management and Climate Change

  • Global Environmental Policy
  • Energy Management Policy

Ethics and compliance training

104.522 Employees trained in anti-corruption
93% of employees trained in anti-corruption
31% of employees trained in anti-corruption by 2020