Magyar Telekom's Board of Directors resolves to change governance structure

Magyar Telekom's Board of Directors resolves to change governance structure

Budapest, August 3, 2017 11:00

Magyar Telekom's Board of Directors has resolved to streamline its organizational structure surrounding the services provided to small and medium-sized business customers, with effect from November 1, 2017. SoHo (small business) customers are to be managed within the Consumer segment and medium-sized businesses within T-Systems. As a direct consequence, the SMB area and Chief Commercial Officer SMB position will cease to exist and P ter Lakatos, Chief Commercial Officer SMB shall leave the Company with effect from November 1, 2017. In accordance, the size of the Management Committee will reduce from 8 members to 7.

Since the beginning of 2013, Magyar Telekom has provided telecommunication and IT services to more than 200,000 business customers, ranging from micro to small to medium-sized, through a single dedicated management function including the respective marketing, sales and customer service areas.

Based on the positions the Company has built up in the SMB segment and taking into consideration the relevant market trends, Magyar Telekom's management believes that through merging the Consumer and SoHo segments, it will be better able to capitalize on the synergies available in terms of serving those customers. At the same time, shifting medium business customers to T-Systems should not only allow greater efficiencies in its operations, but also encourage a greater focus on IT services provided to medium-sized businesses. This streamlining of the Company's operations is designed to help achieve the growth targets as set out in the Company's corporate strategy.

I would like to say thank you to P ter Lakatos for the close to five years he has spent with us and for having strengthened our presence in Hungary's diverse SMB market! It is in a new operational framework, but with the same focus that we continue to exploit the opportunities in the SMB sector and to educate our customers, said Chief Executive Officer, Christopher Mattheisen.

LINK:	http://www.telekom.hu/about_us/press_room/press_releases/2017/august_3...
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