Deutsche Telekom's CEO to step down

Jörn Krieger | 20-12-2012

René Obermann, CEO of Deutsche Telekom, has unexpectedly announced his resignation.

The 49-year old manager has asked the supervisory board to terminate his employment contract and appointment as CEO as of 31 December 2013, the telco said in a statement. The board agreed to this request in a meeting today.
Obermann said that after 16 years at Telekom - of which he has spent seven as the head of the company - he wants to move closer to operational activities than is possible as CEO of an international corporate group, and take on more entrepreneurial activities.
"I want to go back to having more time for customers, for product development and for technology," Obermann said in Bonn. "This is the right time to prepare to pass the baton and ensure a smooth transition."
His successor from 1 January 2014 will be Timotheus Höttges, currently Telekom's CFO.