Deutsche Telekom AG

05/19/2021 | Press release | Distributed by Public on 05/19/2021 08:15

Supervisory Board supports medium-term planning of Deutsche Telekom

  • Transatlantic strategy is a clear commitment to Germany and the United States as a business location
  • 'Important contribution to securing jobs in Germany.'

At its meeting today, Deutsche Telekom's Supervisory Board dealt with the company's strategic development and medium-term planning up to 2024. The Board of Management led by CEO Tim Höttges presented the plans, which the company will present to the public tomorrow and the day after as part of a Capital Markets Day. The focus is on broadband expansion in Germany, the U.S. strategy and financial planning for the next three years.

Ulrich Lehner, Chairman of Deutsche Telekom's Supervisory Board: 'The Supervisory Board fully supports the Board of Management's plans. They guarantee the continuation of the successful course of recent years. They have made Deutsche Telekom the leading telecommunications company in Europe. We endorse the Board of Management's objective of continuing on a consistent growth course in the United States and Europe. This will enable Deutsche Telekom to strengthen and expand its successful position on both sides of the Atlantic. The Supervisory Board also explicitly supports the expanded U.S. strategy - following the successful turnaround and the merger with Sprint.'

Frank Sauerland, employee representative and Deputy Chairman of the Supervisory Board: 'The Board of Management's strategy update addresses the right issues and shows a clear perspective for the future. The employee side sees it as an important contribution to the successful further development of the company and job security.'

Rolf Bösinger, representative of the Federal Republic of Germany on Deutsche Telekom's Supervisory Board: 'The strategy is right and important for Deutsche Telekom. We see it as a clear commitment to Germany as a business location. It secures the company's future viability and makes a major contribution to the expansion of broadband networks in Germany.'

The Supervisory Board thus denies a report in the Handelsblatt yesterday, which had stated, among other things, that there were 'strong reservations' about the plans among representatives of employees and the German government.

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