- 06 Nov 10, 12:44#223425
Another interesting bit of financial news for HRT over on GPupdate.
Former Telefonica President joins Hispania Racing
6 November 2010
As revealed on Friday the Hispania team came with another interesting announcement on Saturday morning as the team will be joined by Spanish businessman and former Telefonica President Juan Villalonga. The Spaniard will help the team move forward in Formula 1 on the commercial side within the Spanish team.
Juan Villalonga was the pioneer in sponsorship of Formula One in Spain during his time as President of Telefonica and, as Hispanis Racing team owner Carabante said: “He has a clear passion for motorsport. We will substantially strengthen our ability to generate innovative activities in marketing and sponsorship with his incorporation.
“We will also be able to make the best of his leadership, knowledge and relationships in the fields of Technology and Communications, and therefore be able to fully exploit the opportunities we are given after this tough first year.”
Juan Villalonga said he felt excited with this new challenge: “Formula One is always associated with innovation, research and technology, and Hispania Racing must be represented on that level, with a stable leadership.”
Villalonga saw Telefonica grow from a state-owned monopoly to one of the top three telecommunication companies in the world. In just four years, he increased Telefónica’s market cap by $127 billion, securing the company's leadership position in Spain and transforming Telefonica into an international telecommunications force. His vision to enter in Brazil in 1998 was key to become one of the leading operators in the world.
"I don't want to be part of a forum where everyone has differing opinions." Boom...
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