FRANKFURT (Reuters) - Deutsche Telekom (DTEGn.DE) has extended the contract of its chief executive officer and named a new finance chief to take over next year, the company announced on Wednesday.
Tim Hoettges received a five year extension to his contract as CEO, while Christian Illek, chief human resources officer, will become the new finance chief in January 2019, succeeding Thomas Dannenfeldt, who will leave for "private reasons".
"It is good that an experienced Telekom guy like Christian Illek will take over the reins," Hoettges said.
Outgoing chief financial officer (CFO) Dannenfeldt said: "After 26 years with the company and five years as CFO, I will take a longer break and then reorientate myself. It has always been my plan, to do something different around my 50th birthday."
The company said it confirmed its financial guidance.
(Reporting by Tom Sims and Ludwig Burger; Editing by Mark Potter)