Jens Schulte-Bockum has informed the supervisory board of Vodafone Deutschland of his intention to resign from his position as CEO within the current fiscal year.

Schulte-Bockum will continue to head the company in the transition period, according to the Düsseldorf-based telco. The successor will be announced in due course.

Schulte-Bockum’s decision follows the release of Vodafone Germany’s figures for the fiscal year 2014/15 which saw a decline in turnover by 3.2% compared with the previous year. The turnover in the core business segment mobile services dropped by 3.5%.