Telefónica Germany extends Management Board contracts

The Supervisory Board of Telefónica Deutschland Holding AG has resolved upon the extension of the contracts of the following five Management Board members by a further three years until July 2023. The members of the Management Board are Markus Rolle, Chief Financial Officer, Wolfgang Metze, Chief Consumer Officer, Alfons Lösing, Chief Partner and Wholesale Officer, Valentina Daiber, Chief Officer for Legal and Corporate Affairs, and Nicole Gerhardt, Chief Human Resources Officer. The contracts, which mature in July 2020, were each extended until July 2023. The contract of Markus Haas, Chief Executive Officer, was already extended in February 2019 and runs until the end of 2022. Laura Abasolo García de Baquedano, Chairperson of the Supervisory Board of Telefónica Deutschland Holding AG, says: "The extension of the contracts is a clear commitment to the excellent management team at the top of Telefónica Deutschland. The management team has already achieved a lot on its way to becoming the Mobile Customer & Digital Champion. I would like to thank them for this. Now it's time to maintain momentum and consistently pursue the path we have taken." Mallik Rao was already appointed to the Executive Board at the end of July 2019. As Chief Technology & Information Officer, Rao will lead the company's network and IT divisions from beginning of November. He succeeds in charge of the O₂ network the outgoing CTO Cayetano Carbajo Martin, who will take over new functions in the international Telefónica Group after his term of office in Germany. In the area of information technology, Rao succeeds the former CIO Guido Eidmann, who for personal reasons has decided not to extend his contract and thus will leave the company in best mutual agreement with the Supervisory Board at the end of October . Eidmann joined the former E-Plus Group in 2013, has managed the company's IT affairs since the merger with Telefónica in 2015 and, as a member of the Executive Board, has been responsible for this area of Telefónica in Germany since 2017. As CTIO, Mallik Rao was already active in previous positions in his career. Rao's contract runs until the end of 2022. The Management Board of Telefónica Deutschland Holding AG will thus consist of seven members in future. "After successfully completing the largest network integration in Europe, I would like to thank Cayetano Carbajo Martin on behalf of the entire Executive Board for his extraordinary commitment," said Markus Haas, CEO of Telefónica Deutschland. "The same applies to our outgoing CIO. Guido Eidmann has been responsible for key issues for Telefónica Germany in recent years. Among other things, the successful integration and consolidation of the approximately 25 million E-Plus customers, including the associated IT platforms, as well as key strategic aspects for the digital transformation of our company," says Markus Haas. "I am very pleased to welcome Mallik Rao to the Management Board. With him, we will consistently push ahead with the network expansion and further modernization of our IT infrastructure and services".