Kai-Uwe Ricke steps down as the CEO of Deutsche Telekom

As per incoming news, Kai-Uwe Ricke has stepped down as the chief executive offer of the telecom giants Deutsche Telekom.

This resignation is effective immediately and the company is expected to discuss appointing his successor today.

He is likely to be succeeded by Rene Obermann, the head of Deutsche Telekom’s mobile arm, T-Mobile.

Ricke has been pretty successful at the top of the company helping it to stay competitive in the German home market where it faces fierce competition.

Ricke spoke to reporters last week talking about company’s performance. He highlighted that DT’s shares gained some 25% in value since he announced his cost-cutting measures.

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