Spanish telco group Telefónica concluded its AGM by re-electing José María Álvarez-Pallete as Chairman and CEO, and unveiling a rebrand
Álvarez-Pallete has been the double boss of Telefónica since 2016. He received 84% of the shareholder vote to keep his job, a higher number than he managed in 2017, implying investors are happy with his performance. He celebrated by reverting his company’s logo back to the dot theme featured for much of its history.
“This new identity reflects a new Telefónica ready for the next 100 years,” said Álvarez-Pallete. “This new identity reflects where we come from, because we are the backbone of society through telecommunications. It reflects where we are going, as we are an increasingly technological company that wants to play a leading role in the world to come. It reflects the company’s DNA, which is one of innovation and continuous transformation.
“It reflects the soul of the company, which is the talent of the professionals who drive the present and future of the company. And it reflects the transcendence of everything we do, of our purpose. In short, this new identity reflects a new Telefónica, ready for the next 100 years and will be the lighthouse that guides us on this course we have already embarked on.”
Rebrands are usually accompanied by this sort of hyperbolic nonsense, but this reversion to style of logo favoured by both Telefónica and BT back in the 80s certainly required some explanation. At least he didn’t just get his company name and then draw a circle around it.