Urdangarin gives up Brazil Telefónica post
King’s son-in-law already on leave of absence from Spanish telecoms group in wake of corruption accusations
King Juan Carlos’ under-fire son-in-law, Iñaki Urdangarin, has handed in his resignation from the board of Telefónica Brasil, the company has confirmed.
“The board of directors received and accepted the resignation of the board member and member of the Appointments, Maturities and Corporate Governance committee, Mr Iñaki Urdangarin,” read the minutes of the October 2 meeting in São Paulo in which his resignation was presented.
The move comes two months after the Duke of Palma, who is accused of siphoning off millions in public funds via his not-for-profit Nóos Institute, announced his decision to ask for a temporary leave of absence from the Spanish telecoms group in view of the possibility that the ongoing judicial process against him could have “negative repercussions” for the company.