Telekom Austria’s management and supervisory boards are reportedly set for a shakeup, with investor Ronny Pecik instigating the appointment of a chief operating officer and gaining seats on the supervisory board alongside co-investor Naguib…
Telekom Austria’s management and supervisory boards are reportedly set for a shakeup, with investor Ronny Pecik instigating the appointment of a chief operating officer and gaining seats on the supervisory board alongside co-investor Naguib Sawiris.
According to a report in Austrian newspaper Die Presse, Pecik – who together with Egyptian investor Sawiris owns a 20.1% stake in the company via private investment unit RPR Privatstiftung – will advocate the appointment of Georg Donaubauer as COO. Donaubauer, currently a strategy director with the company, would join CEO Hannes Ametsreiter and CFO Hans Tschuden on the management board.
The report, that does not name its sources, stated Pecik will be granted two new seats on the supervisory board, while Sawiris will replace a current member. As a result the supervisory board will increase from eight to 10 members. In addition, the report added Pecik will replace Edith Hlawati on the supervisory board steering committee.
As previously reported, Pecik and Sawiris have built their combined stake in Telekom Austria to 20.1% since late 2011 via private investment unit RPR Privatstiftung, and have said publically they intend to increase it. In December last year, Die Presse quoted Pecik as saying he wanted more seats on the supervisory board, while Sawiris told Reuters last month that the duo regard their stake in Telekom Austria as “an investment of influence”.
Austrian state holding company, OeIAG, is Telekom Austria’s largest investor with a 28.42% stake.
A Telekom Austria spokesperson declined to comment but pointed out that, in general, new members of the supervisory board are appointed at the annual general meeting. The supervisory board could then decide to appoint new management board members, she added.
