Deutsche Telekom’s outgoing CEO Rene Obermann will leave the board of its American subsidiary T-Mobile US on 15 November. Obermann, scheduled to vacate the DT hot seat at the end of the year, is set to take the helm at Dutch cableco Ziggo at the start…
Deutsche Telekom’s outgoing CEO Rene Obermann will leave the board of its American subsidiary T-Mobile US on 15 November.
Obermann, scheduled to vacate the DT hot seat at the end of the year, is set to take the helm at Dutch cableco Ziggo at the start of next year.
His successor at the German incumbent, Timotheus Hoettges, is already chair of T-Mobile US following its reverse merger with prepaid operator MetroPCS.
In an SEC filing, T-Mobile US said that Obermann’s departure from the board was not due to any disagreement and that it expected controlling shareholder DT – which owns 74% of the operator – to appoint a new representative to the board in due course.
Following his resignation from the US board, Obermann has today joined the supervisory board of German steelmaker ThyssenKrupp.
T-Mobile US and MetroPCS closed their merger at the start of May and the newly-combined operator’s stock began trading at US$16.25. Today it is trading at US$27.56, an increase of 69.6%.
