Villalonga joins Hispania to help attract sponsors 08/11/2010 |
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Juan Villalonga, one of Spain's most influential businessmen, has joined Formula 1 team Hispania Racing.
Villalonga was the pioneer in the sponsorship of Formula 1 in Spain during his time as president of Telefonica between 1996 to 2000.
In his four years with the company, Villalonga grew Telefonica from a state-owned monopoly to one of the top three telecommunications companies in the world.
Villalonga had previously been chief executive for Credit Suisse First Boston and chief executive of Bankers' Trust in Spain, resulting in him being named one of the world's top 100 chief executives by Harvard Business Review earlier this year.
Currently working as a business adviser for a number of companies and management teams worldwide, Villalonga will now put his wealth of experience to good use in assisting Hispania.
The Spanish team has struggled to gain a foothold in F1 this year following a difficult start to its debut campaign.
Villalonga said: "For me, the key is the quality and not the quantity of sponsors.
"My immediate goal is to help develop new relationships with them, leading to the creation of more value for all implicated parts.
"Formula 1 is always associated with innovation, research and technology, and Hispania Racing must be represented on that level, with a stable leadership."
Hispania team owner Jose Ramon Carabante added: "We will substantially strengthen our ability to generate innovative activities in marketing and sponsorship with his co-operation.
"We will also be able to make the best of his leadership, knowledge and relationships in the fields of technology and communications."
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