New CEO Named for O2 Germany

Telefonica has shaken up the management at its German O2 subsidiary, moving the current CEO, Jaime Smith Basterra over to the parent company as Director of Affiliates and Industrial Alliances. He is to be replaced by former Vodafone exec, Rene Schuster who is coming in from outside the company.

Matthew Key, CEO of Telefonica Europe, said: "Jaime has done an outstanding job in Germany building the foundations for long term growth and profitability. He leaves the business strongly poised for the next stage of its positive development. I would like to thank him for his invaluable contribution and wish him every success in his new global role.

A highly experienced executive, Rene Schuster has operated at a senior level in a number of technology, telecommunications and service-oriented companies. In particular, he was global marketing director for Vodafone. Prior to this, he held the position of Senior VP & General Manager at Hewlett Packard, having previously been CEO (UK & Ireland) for Compaq, and Senior Partner (EMEA) at KPMG Management Consulting. Rene Schuster will also sit on the Board of Directors of Telefonica Europe plc.

Posted to the site on 13th May 2009