Surprise Resignation of Telefónica Deutschland's CEO

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Telef nica Deutschland has announced that its CEO, Ren Schuster is leaving with immediate effect, even as the company is in the middle of a takeover agreement with rival mobile network, E Plus.

The company did not explain the reason for the sudden and unexpected departure, simply stating that it was by "mutual agreement".

René Schuster's responsibilities will be transferred to Chief Financial Officer Rachel Empey and Chief Strategy Officer Markus Haas, who will jointly lead the Management Board.

Rachel Empey will lead the operational business and Markus Haas the preparation of the E-plus integration in addition to their existing roles.

Eva Castillo, Chairperson of the Supervisory Board of Telefónica Deutschland Holding AG, said: "René has made an enormous contribution to the business over the last five years and he will leave the role with our gratitude and best wishes for the future."

Schuster, who joined Telefonica Deutschland in 2009 will retain an advisory role to the Chairperson for an unspecified period of time.

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Tags: telefonica deutschland  Germany 

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