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Deutsche Telekom’s new CEO faces twin tests

31
Dec
2013

By Harro Ten Wolde and Leila Abboud FRANKFURT (Reuters) – When Deutsche Telekoms new Chief Executive Tim Hoettges takes office on Wednesday, a revival of mergers and acquisitions in the sector and a dramatically changing competitive landscape in Germany will pose his biggest challenges. Hoettges will draw on such experience to decide how Deutsche Telekom, Europes third-largest telco by sales, should navigate consolidation on both sides of the Atlantic and take on a rejuvenated Vodafone in Germany. Born in Solingen, a city in the prosperous eastern state of North Rhine-Westphalia, Hoettges is said to be straightforward, traditional and intense, unlike his long-time friend and outgoing CEO Rene Obermann, who is known for his easy charm. Hoettges is not known for schmoozing corporate colleagues or politicians, said another banker who worked for him.

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