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Telekom Austria CFO contract decision next week
February 21, 2014 / 3:10 PM / 4 years ago

Telekom Austria CFO contract decision next week

VIENNA, Feb 21 (Reuters) - Telekom Austria could decide next week to terminate Chief Financial Officer Hans Tschuden’s contract a year early in 2015, a company spokesman said on Friday.

Tschuden’s contract runs until March 2017 but with an option to end it in March 2015, in which case he would have to be given notice by the end of March 2014, the spokesman said.

Telekom Austria’s supervisory board will meet on Tuesday and the board’s personnel committee will meet ahead of the meeting, with a single item on the agenda: management issues, a source familiar with the matter told Reuters.

The source said Tschuden, who has been criticised internally for a dividend policy seen by some as too generous as well as for a loss-making interest-rate swaps deal he entered into in 2010, would be the subject of the meeting.

Tschuden declined comment.

Chief Executive Hannes Ametsreiter’s contract was renewed last year until 2016, with an option to extend until 2018. Chief Technology Officer Guenther Ottendorfer, the other management board member, was appointed last year for three or five years.

Next week’s supervisory board meeting, which takes place a day before Telekom Austria is due to present its full-year results, is the last planned board meeting this quarter.

Carlos Slim’s America Movil, which holds 27 percent of Telekom Austria, is expected to move soon to acquire control of the partly state-owned company.

Reporting by Georgina Prodhan; Editing by David Holmes

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