Editor ©RapidTVNews | 12-09-2011

Telefónica is to beef up its efforts towards expansion in the digital platforms arena and has announced a major restructuring of its business lines.

Revealing the new move, Telefónica president César Alierta said the move was designed to speed up the decision-making process, as well as on balancing and simplifying the organization.

The company's restructure will seek to find a balance in the geographic distribution of its business. This new business distribution will be based on each market development stage, prioritising its two major assets: Europe and Latin America.

José María Álvarez-Pallete, who until now was responsible for Latin America, will lead the European region and Santiago Fernández Valbuena, former general director of strategy, finances and corporative development will be now in charge of the Latin American region. This structural change will also require Ángel Vilá to join the Executive Board as chief leader of finances and corporative development.

The news comes hot on the heels of the company announcing that it is to form a new business unit called Telefónica Digital based in London with regional offices in Madrid, Sao Paulo, Silicon Valley and select Asian territories. The new division will focus on enhancing Telefónica's performance in the digital world.

About 2.500 professionals coming from the global new services area at Telefónica, Terra, Tuenti, Jajah, Telefónica I+D and Media Networks, will be joining the new division, which will be led by the until-now head of European business, Mathew Key.