German govt: Deutsche Telekom succession plan assures continuity

BERLIN Thu Dec 20, 2012 10:16am EST

BERLIN Dec 20 (Reuters) - Germany's Finance Ministry regrets but respects Rene Obermann's surprise decision to step down as chief executive of Deutsche Telekom, it said on Thursday.

The ministry also said the quick succession - by finance chief Timotheus Hoettges - would ensure continuity at the firm, in which the government holds a 32 percent share.

"The chief strategist so far becoming the new captain indicates that the course will be held," a spokesperson for the ministry told Reuters.

Obermann said on Thursday he would step down at the end of next year. He will be replaced by Hoettges. (Reporting by Rene Wagner, writing by Annika Breidthardt)