Telefonica Deutschland CEO to leave post

Telefonica Deutschland CEO to leave post

Telefonica Deutschland has announced that CEO René Schuster will step down from his post as of 31 January 2014.

Schuster will remain at the company in an advisory role for Eva Castillo, chairperson of the supervisory board of the company.

CFO Rachel Empey and chief strategy officer Markus Haas will take over Schuster's responsibilities and jointly lead the management board in addition to their existing roles.

Empey will lead the operational business while Haas will be in charge of preparing for the company’s integration of E-plus, as soon as the European Commission approves the $12 billion acquisition.

"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,” said Castillo. “Rachel and Markus combine extensive financial and operational leadership experience in one of our most important markets. They both have considerable understanding of the industry challenges and opportunities which are of greatest importance to our investors.”

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