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Spanish telco Telefónica has appointed José Luis Rodríguez Zarco as new CEO of its Venezuelan operation, moving Pedro Cortez to take up the same role in Peru.

With this move, the company aims to strengthen its executive leadership in Venezuela, one its most complicated operations in Latin America, while retaining Cortez in a top position in an important regional market like Peru.

Zarco has been working for Telefónica since 2001, when he was appointed corporate director of security for Telefónica Argentina. The Spanish executive was later director of the communication and institutional relations department, and since 2016, he has been working as the telco’s director of fraud prevention in Spain.

For the last five years, Cortez has been director of Telefónica’s Venezuelan operation. Working for the telco since 1997, Cortez has had several manager positions in his home country, Peru, to where he now returns to head one of the strongest Telefónica operations in Latin America.