In a surprise move, the CEO of Telefonica Deutschland (O2), Rene Schuster, has decided to step down today (31 January) after almost five years in the role.
His responsibilities will be transferred to chief financial officer Rachel Empey and chief…
In a surprise move, the CEO of Telefonica Deutschland (O2), Rene Schuster, has decided to step down today (31 January) after almost five years in the role.
His responsibilities will be transferred to chief financial officer Rachel Empey and chief strategy officer Markus Haas, who will together lead the management board.
Schuster however remains in an advisory role for Eva Castillo, chairwoman of the company’s supervisory board. The reasons for his departure have not been disclosed.
Schuster’s exit comes as Spanish incumbent Telefonica is the process of acquiring KPN’s German unit E-Plus.
The €8.55bn (US$11.7bn) deal, which would combine Germany’s third and fourth-largest mobile operators, is currently investigated by the European Commission. Yesterday, the EC rejected the German regulator’s renewed request to review the transaction.
