Hannes Ametsreiter quits as Telekom Austria CEO; successor not yet named

Hannes Ametsreiter this week resigned from his position as CEO of the Telekom Austria group in what was described as a surprise move, marking the end of his long tenure at the América Móvil-owned operator.

Ametsreiter's contract was set to expire at the end of 2016 and had an extension option until 2018.

Little has been disclosed about where he will go next, or who his successor will be. Should no successor be appointed to fulfil the role before the end of July, deputy CEO Alejandro Plater would take over in the interim period, Reuters noted.

"After so many years a farewell is of course hard, but the Telekom Austria Group today is in great shape as a leading convergent communications provider, has great perspectives for growth and two strong core shareholders," said Ametsreiter.

Ametsreiter joined the mobile business of Telekom Austria around 19 years ago and became group CEO in 2009. He has steered the group through many changes, including the merger of the Austrian fixed and mobile operations to form A1 Telekom Austria, the expansion of activities in Central and Eastern Europe, a growing focus on fixed-mobile convergence, and the company's acquisition by Mexico-based América Móvil.

Unnamed sources told Reuters that Ametsreiter had received an offer for another position "which was not to be turned down". More details are expected to be revealed next week. Ametsreiter is understood to be leaving voluntarily and not due to pressure from America Movil, Reuters added.

The operator generated a net profit of €92.7 million ($104 million) in the opening quarter of 2015, a 127.5 per cent rise on the first quarter in 2014, despite a 2 per cent year-on-year decline in revenue.

Revenues were dragged down by losses in Telekom Austria's operations in Bulgaria, Belarus and 'additional' markets, which offset growth in Croatia and a slowdown in losses in the operator's domestic business.

For more:
- see this Telekom Austria release
- see this Reuters article
- view Telekom Austria's Q115 earnings announcement

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