José María Álvarez-Pallete, the chairman of Telefónica, has taken over as chairman of the board of directors of VMO2, replacing Liberty Global CEO Mike Fries.In a statement, Telefónica says that this replacement is in accordance with the agreement established in the creation of the joint venture resulting from the merger between Virgin Media (Liberty Global) and O2 (Telefónica), by virtue of which the chairmanship of the board will rotate every two years between the two companies. Mike Fries will remain a member of the VMO2 board.It adds that Telefónica and Liberty Global announced the integration of their two UK subsidiaries in May 2020 to create a leading operator in the UK market. The deal, the largest in Telefónica’s almost century-long history, closed on June 1, 2021.
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