Governance

The ultimate party responsible for the organization’s sustainability is the Administrative Counsel through its Regulation and Institutional Affairs Committee. In this scope, its mission is to approve and monitor the Global Business Principle Plan. The Committee is made up of six Counselors, meeting periodically and whenever the Counsel requests its intervention.

At an executive level, the Global Department for Corporate Ethics and Sustainability is responsible for proposing and coordinating the strategy having to do with sustainability. This department reports to the Global Department for Public and Regulatory Affairs, which answers directly to the CEO and is present on the Executive Committee.

Lastly, there is a horizontal organ throughout the Company, the Business Principles Office, that is in charge of monitoring the implementation of the plan in all of the organization’s activities. The Human Resources, Internal Audit, General Secretary, Chief Commercial Development Office and the Global Department for Corporate Ethics and Sustainability departments participate permanently in this Office through their maximum representatives, while the Procurements, Operations, Communications, etc., departments participate sporadically when the matter being dealt with is directly related to their functions.

The Business Principles Office is replicated on a national level, in almost all Telefónica operators.

In addition, in order to maintain the integrity and transparency in the management of our risks we have specific organizational units:
 

  • Internal audit units in all countries where we hold significant interests.
  • Inspection unit specialized in fraud prevention work and investigation of complaints.
  • Intervention unit in the main companies payments.
  • Global address and local units of sustainability.
  • Corporate risk management unit, which centralizes and reports the information received from the local areas of risk management, implemented in major operations of the Group.
  • Since February 2016, it has created a corporate level the figure of the Chief Compliance Officer, which reinforces and strengthens our culture of compliance.

 

 

Regulation and Institutional Affairs Committee

Committee Members:
  • D. Julio Linares López *
  • Dª Eva Castillo Sanz
  • D. Gonzalo Hinojosa Fernández de Angulo
  • D. Antonio Massanell Lavilla
  • D. Ignacio Moreno Martínez
  • D. Francisco Javier de Paz Mancho

*Commitee President.