Deutsche Telekom CFO Thomas Dannenfeldt leaves

  • Push-out Score suggests push-out forces
  • After about five years in the position
  • Accolades, praise, thanks and words of regret for Dannenfeldt
  • Christian Illek taking over
  • Dannenfeldt spoke at length and said 103 words

(exechange) — Bonn, Germany, February 21, 2018 — Thomas Dannenfeldt, finance chief of Deutsche Telekom, leaves. His departure is made public at an early stage. As announced by Deutsche Telekom AG in a news release on Wednesday, February 21, 2018, Thomas Dannenfeldt, Chief Financial Officer, leaves the German telecommunications company after about five years in the position, effective December 31, 2018.

Long goodbye

It is a long goodbye. The announcement of Dannenfeldt’s move comes 10 months prior to his planned departure from the post of CFO.

In general, a top executive who announces the departure very early may be considered a lame duck.

Dannenfeldt’s duties will be taken over by Christian Illek, currently Chief Human Resources Officer of Deutsche Telekom AG.

No decision has been taken yet on a successor of Christian Illek. Ulrich Lehner, Chairman of the Supervisory Board, said: “We will initiate the search process for a successor with our usual care and professionalism!”

“Private reasons”

Dannenfeldt’s departure from the CFO post is explained as follows. Deutsche Telekom said: “The present CFO of Deutsche Telekom, Thomas Dannenfeldt, has decided to leave the company for private reasons at the expiration of his contract by the end of the year.”

The company did not detail the private reasons causing Dannenfeldt to leave the position, leaving room for speculation. Generally speaking, “private reasons” may include, among other not work-related issues, family-related reasons or health reasons.

Precise information about Dannenfeldt’s future plans was not immediately available.

Chaired by Ulrich Lehner

Deutsche Telekom AG is chaired by Ulrich Lehner.

Lehner is Chairman of the Supervisory Board since April 25, 2008.

CEO: Timotheus Höttges

Timotheus Höttges serves as CEO of Deutsche Telekom AG. Timotheus Höttges, born in 1962, is Chief Executive Officer of Deutsche Telekom AG since January 2014.

In the position of CFO since 2014

Thomas Dannenfeldt has been Chief Financial Officer of Deutsche Telekom AG since January 2014.

Prior to this, he was Managing Director of Finance at Telekom Deutschland GmbH, which was founded in 2010.

He was initially appointed CFO of T-Mobile Deutschland in July 2009 before also taking on the same position at T-Home in January 2010.

When the T-Mobile and T-Home units were merged to form Telekom Deutschland GmbH in April 2010, he became CFO of Telekom Deutschland.

From 2007 through 2009, Thomas Dannenfeldt was a member of the T-Home Board of Management, responsible for the Market and Quality Management department, before also taking charge of the Finance department of T-Mobile.

Up until 2007, he was in charge of sales management, supply chain management and sales development at T-Mobile International for the national companies in Europe.

He also headed development and performance of the T-Mobile shops in Europe for T-Mobile International.

After studying business mathematics at the University of Trier, Thomas Dannenfeldt began his career in 1992 at T-Mobile Deutschland with sales tasks in the consumer and wholesale area.

From 1995, he held various management posts in the areas of customer service, sales management and process management.

In 2003, Thomas Dannenfeldt moved to T-Mobile International, while at the same time working on top projects such as the “Save for Growth” program and, later at T-Home, the “Save for Service” program aimed at cutting costs while enhancing service.

In 2009/2010, he was the Board of Management Representative for the restructuring of the Group under the One Company project and ensured a rapid and smooth transition.

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered Thomas Dannenfeldt’s move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.

Read the full story in the exechange report 9.2018 ($).