Magyar Telekom Revises Management Structure

Magyar Telekom, the leading Hungarian telecommunications service provider has announced that the its Board of Directors resolved to streamline its management structure by re-allocating the tasks and responsibilities of the Management Committee to the Chief Officers and to the Board of Directors of the Company with effect from January 1, 2020. Additionally, the Board of Directors resolved that small and medium size segment customers will be managed together with residential customers by an integrated Customer Facing Unit with effect from January 1, 2020.

As part of an ongoing corporate governance simplification initiative, the Board of Directors of Magyar Telekom resolved to re-allocate the current tasks and responsibilities of the Management Committee to the Chief Officers and to the Board of Directors of the Company and thus to transform the Management Committee into an agile 'Leadership Squad'. As a result of this change, the Management Committee of the company will cease to exist as a formal corporate decision-making body as of January 1, 2020. This streamlining of the company’s management structure is designed to foster agile and effective decision making at the top management level. The company says it remains fully committed to upholding the highest level of compliance with best corporate governance practices.

Changes in management

The Board of Directors of the company approved, at his request, the termination of János Szabó’s employment contract as of February 29, 2020. János Szabó has been with the Companyfor more than 15 years, first as finance and controlling director and as Chief Financial Officer since 2013.
The Board also decided on the appointment of Darja Dodonova as Chief Financial Officer effective as of March 1, 2020. She joins Magyar Telekom from the headquarters of Deutsche Telekom Group, where she has been working since 2000. "In previous years, she held various management positions, since January 2017, she has been Vice president of Europe segment Technology Controlling. Darja has more than 19 years of finance experience especially in the field of controlling and accounting," a statement by Magyar Telekom says.