We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
 
74,944 News Articles

Former head of T-Mobile to lead Deutsche Telekom

Must staunch customer losses

Deutsche Telekom AG has appointed the former head of its profitable T-Mobile phone business as the company's chief executive officer.

René Obermann joined the German network operator in 1998, working his way up the ladder to become a board member and head of the group's mobile phone division, the company said today.

Obermann succeeds Kai-Uwe Ricke, who resigned yesterday after a meeting with the supervisory board.

Ricke was appointed CEO on 15 November 2002, succeeding Ron Sommer, who lost his job after plunging Europe's largest telecommunications service provider into debt and allowing its stock to free-fall.

At the helm of Deutsche Telekom, Ricke successfully reduced the group's debt from more than €65bn (about £44bn) to less than €40bn (£27bn) at the end of September. But he was unable to stop declining revenue in its traditional landline business, as competitors with lower fixed costs nibbled away at its customer base for voice services.

One of Obermann's immediate challenges will be to dam the flow of customers to rivals.


IDG UK Sites

Amazon 3D smartphone release date, price and spec: The hologram phone?

IDG UK Sites

iPhone 5s review: why the iPhone 5s is still the best phone you can buy in 2014

IDG UK Sites

Passwords don't work: here's four ways to fix them

IDG UK Sites

Developers get access to more Sony camera features