Deutsche Telekom has hired a new CEO to lead its underperforming enterprise division.
The identity of the new exec is being kept under wraps “on request of the individual's current employer”, the Germany-based operator said, but they will start their new role on 1 January next year.
The announcement means Reinhard Clemens (pictured) departs the company after leading T-Systems for almost 10 years.
The former HP and IBM exec has paid for sales falling over five percent to €3.4 billion in the first half of this year and 3.5 percent to €7.9 billion in 2016.
Adjusted EBITDA slumped over 24 percent to €232 million in H1 2017 and over 21 percent to €582 million last year.
The company blamed “sustained price pressure” in IT services and a failure to replace some big legacy deals for its most recent financial performance.
Clemens said: "The essential aspect of our work in recent years was to make the company future ready and to focus on the challenges posed by digitisation.
“We did so successfully, even though we have not yet achieved all our objectives completely.”
Ulrich Lehner, the Chairman of the Supervisory Board added: "I would like to thank Reinhard Clemens for his nearly 10 years of service on the Board of Management.
“In a difficult competitive environment, he provided the company with important momentum.
“His successor possesses the necessary experience and know-how to continue to drive consistently T-Systems’ transformation."