- In January 2020, Telefónica Group refreshed its representation on its UK infrastructure-sharing joint venture (JV) with Vodafone UK, Cornerstone Telecommunication Infrastructure Limited (CTIL).
In January 2020, Telefónica Group refreshed its representation on its UK infrastructure-sharing joint venture (JV) with Vodafone UK, Cornerstone Telecommunication Infrastructure Limited (CTIL).
The operator has beefed up the presence of finance executives on the board, with both Patricia Cobián, Chief Financial Officer at Telefónica UK (O2 UK), and the operating business’s Head of Finance James Gill added to replace Laura Fernandez, an outgoing Telefónica finance executive. The refreshed board coincides with Telefónica’s restructure, and most notably its creation of Telefónica Infra, a division dedicated to the Group’s physical infrastructure and tower assets.
The refresh may also be a step towards the JV owners preparing to follow through with earlier indications of interest in monetising the infrastructure business (Telefónicawatch, #134). Analysts have valued CTIL at more than €2.6bn, despite deployment and operating costs leading to a €103m loss in FY18–19.
| Director | Role at CTIL parent |
|---|---|
| Source: CTIL; various. | |
|
Patricia Cobián |
Chief Financial Officer, O2 UK |
|
James Gill |
Head of Finance, O2 UK |
|
Derek McManus |
Chief Operating Officer, O2 UK |
|
Brendan O’Reilly |
Chief Technology Officer, O2 UK |
|
Emanuele Tournon |
Chief Financial Officer, Vodafone Europe |
|
Scott Petty |
Chief Technology Officer, Vodafone UK |
|
David Wormald |
Director of Finance, Vodafone Group |
|
Andrea Dona |
Head of Networks, Vodafone UK |
