• Germany edition
Business & Money
Photo: DPA

Deutsche Telekom CEO to step down next year

Published: 20 Dec 12 16:30 CET | Print version
Online: http://www.thelocal.de/money/20121220-46901.html

German telecoms giant Deutsche Telekom said on Thursday that its chief executive Rene Obermann would step down early, at the end of 2013, and was being replaced by its finance chief.

The company said Obermann, whose contract had been due to run until end-October 2016, had asked the supervisory board to release him from his duties from end-December next year and it had approved the request.

Obermann said in a statement that he wished to get more involved in daily operations again.

"I want more time for customers, product development, and techology," he said.

He has held the top job at Telekom since 2006.

Replacing him will be finance chief Timotheus Höttges, who will assume the CEO job in January 2014, and from next month become deputy CEO in addition to his current duties, a company statement said.

AFP/DPA/The Local/mry

What do you think? Leave your comment below.


Your comments about this article:

18:22 December 26, 2012 by raandy
Thanks for the intel
ADD YOUR COMMENT   (YOU MUST LOG IN OR REGISTER TO MAKE A COMMENT)
Business & Money headlines
Photo: DPA

Car boss asks Merkel to rethink CO2 pledge

The president of the German Automobile Association (VDA) has written to Angela Merkel, asking her to retract her pledge to significantly reduce CO2 car emissions by 2025, it was reported on Tuesday. READ () »

Photo: DPA

SAP to hire hundreds of autistic IT experts

German tech company SAP said on Tuesday it wants to hire hundreds of people with autism to work as software testers and programmers. The search has, it said, begun for people “who think differently from others.” READ () »

Photo: DPA

Economists warn against German euro exit

While a third of Germans would rather pay with the old Deutsche mark than the euro, economists warn that a German exit from the currency union would result in a disaster. READ () »

Photo: DPA

Germany cool to France's EU economy plan

Germany said Friday that French President Francois Hollande's proposal for a eurozone economic government was "interesting" but reacted coolly to his call for strengthened European budgetary powers. READ () »

Photo: DPA

Au pairs rules relax for non-German families

Foreign families will soon be able to officially engage au pairs from outside the European Union, as long as they speak German at home, as the government prepares to change the law. READ () »

Wolfgang Schäuble and his French counterpart Pierre Moscovici. Photo: DPA

Germany refuses to slam French economic policy

Germany will not publicly criticize France over economic policy, German Finance Minister Wolfgang Schäuble insisted on Thursday, amid differences between Berlin and Paris over growth versus austerity in battling the eurozone debt crisis. READ () »

Photo: DPA

Capri-Sun drink wins false advertising award

A German food industry watchdog singled out drinks-maker Capri-Sun for its annual advertising "award" on Thursday, for what the group described as "shameless" marketing of sugary drinks to children. READ () »

Photo: DPA

Anaemic economy feels winter chill

The German economy, Europe's biggest, clocked up anaemic growth at the start of 2013 as the freezing winter weather put the brakes on activity, official data showed on Wednesday. READ () »

Photo: DPA

ThyssenKrupp bins 3,000 admin jobs

German heavy industry giant ThyssenKrupp said on Wednesday it plans to axe 3,000 administrative jobs worldwide as disastrous investments in steel operations overseas tore holes in its balance sheet in the second quarter. READ () »

Photo: DPA

Pay deal for metal workers averts strike

Germany's powerful union IG Metall agreed a pay deal with the metal industry's employers association early Wednesday, averting the threat of a major strike. READ () »

More Business & Money

See all ads | Join the Marketplace

Jobs in Germany, in English

856 jobs available
642 new jobs this week
164 new jobs today

ALL JOBS »

Latest Business & Money news from Sweden
News from the Goethe-Institut
News from DeutschlandOnline

Toytown Germany
Germany's English-speaking crowd
Trade CFDs with InterTrader.com
Start trading shares, equities, forex, etc. No commission on equities; Low min. margins. Apply for a CFDs account now!
Little house in Spain
'Charming, old, beamed cottage for holiday let in Jesus Pobre, Alicante, Spain
www.littlehouseinspain.com/
Albatross Insurance
Professional and qualified consultancy on all insurance and finance matters in Germany, Telephone: +49 2163 571 1740, Email: bg@albatross-assurance.com
www.albatross-assurance.com
Hotel reservations in Berlin
Visiting Berlin anytime soon? Book your hotel in Berlin here.
Rental apartments in Berlin
For home-from-home holiday accommodation, search for a Berlin apartment to rent.