Telekom Austria appoints chairman

Telekom Austria appoints chairman

Telekom Austria has named Wolfgang Ruttenstorfer, former head of energy group OMV, as chairman of its supervisory board.

Ruttenstorfer replaces Rudolf Kemler on the board of Telekom Austria, of which America Movil's Carlos Slim owns approximately 60%. Kemler will also depart from his position as head of state-holding company OBIB this year.

In March 2015, the board of Telekom Austria appointed Alejandro Plater to a three-year term as chief operating officer.  

The changes are part of a recent nationwide reform of how state-held stakes are handled through OBIB, which owns about 28% of Telekom Austria. 

The government is tightening its grip on partly state-owned companies after an agreement to revamp OBIB which oversees government holdings in companies like Telekom Austria. 

In November 2014, Slim injected an additional $750 million into the operator. Slim has stated his intentions for Telekom Austria as a base for further expansion into central and eastern Europe, where the company already has operations in six countries, including Bulgaria and Croatia.