José María Álvarez-Pallete, president of Telefónica, completed the process of restructuring the company's top management, in which he started two years ago when he took over César Alierta’ position. In a new restructuring, the business of Hispano-America - until now led by Eduardo Caride - was split into two, and new authorities have been appointed for Colombia and Spain. The changes are expected to be endorsed by Telefónica’s board of directors at the meeting tomorrow.