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Article: It's easier to fire the manager.(Deutsche Telekom appointed Rene Obermann after Kai-Uwe Ricke resigned from the company)(Brief article)
- Article from:
- The Online Reporter
- Article date:
- November 18, 2006
CopyrightCOPYRIGHT 2006 Rider Research, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Deutsche Telekom CEO Kai-Uwe Ricke, resigned on Monday morning "in the interests of the company," a year before his contract was due to expire. DT, the incumbent German phone company, immediately named Rene Obermann, head of its T-Mobile mobile phone service, to succeed Ricke.
No reason was given for the change, but DT's share prices have been in the dumps and disappointing third-quarter results, including a 20% drop in profits, may have prompted the move.
Like incumbent telcos worldwide, DT has been losing residential landline subscribers at an accelerating pace--a million in the first half of 2006 alone.
Ricke is generally given credit for, ...