German broadband operator United Internet has recruited long time Vodafone executive Frank Krause as its new CFO.
He takes over from Norbert Lang, who leaves the group after 21 years, the last 13 of which he spent as CFO.
Krause has most recently…
German broadband operator United Internet has recruited long time Vodafone executive Frank Krause as its new CFO.
He takes over from Norbert Lang, who leaves the group after 21 years, the last 13 of which he spent as CFO.
Krause has most recently served on the management board of Vodafone Germany, where he has been responsible for strategy and corporate development since 2014.
Before that he was CFO of Vodafone Turkey, and prior to that CFO of Vodafone Hungary. Krause joined Vodafone after it acquired Mannesmann, where he had been since 1992.
He has also sat on the supervisory boards of Netcom Kassel, Vodafone Hungary, Vodafone Cyprus, Vodafone Germany, and Kabel Deutschland.
Lang will depart on 30 June at his own request to “create more free time for private matters and new projects”, United Internet said in a statement.
However, Lang will retain a connection with the group via his seats on the boards of various companies it holds equity stakes in.
Ralph Dommermuth, founder and CEO of United Internet, paid tribute to Lang, saying: “He is an outstanding businessman whose professionalism and human touch never ceased to inspire me in our 21 years of close and cooperative collaboration.”
The change in the finance department comes at a time when United Internet has been looking at acquisition opportunities. It agreed to buy smaller German rival Versatel last September for an enterprise value of €947m, and has made it clear it is looking to play a part in the consolidation of Germany’s broadband market.
On 26 March Dommermuth reiterated that his company was keen to make more acquisitions like Versatel. He made it clear he sees the future in optical fibre as opposed to DSL.
