Deutsche Telekom CEO in Transition

Germany’s biggest phone company, Deutsche Telekom, just announced its CEO is stepping down to pursue ‘entrepreneurial opportunities’. Current CEO, Rene Obermann will remain with the company until the end of next year to oversee the transition to its new CEO, Timotheus Hoettges. Hoettges is the company’s current CFO and has been with Deutsche Telekom since 2000. While there is speculation about the real reason for Obermann’s departure, what is clear is the company’s stock has lost 36% of its value since Obermann took the CEO job in 2006.

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