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
78,821 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

Android One vs Android Silver vs Google Nexus: What is the difference?

IDG UK Sites

2014 Mac mini release date, specs, rumours: When's the new Mac mini coming out?

IDG UK Sites

Long live the internet fridge: the Internet of Things is coming

IDG UK Sites

How Prometheus' colourist Juan Ignacio Cabrera gave a tense, edgy feel to Chosen