February 25, 2014 / 7:00 PM / 4 years ago

Telekom Austria delays decision on CFO contract extension -OIAG

VIENNA, Feb 25 (Reuters) - Telekom Austria’s supervisory board has postponed a decision about whether to extend the contract of Chief Financial Officer Hans Tschuden, its largest shareholder said.

“There was no decision today. It will be taken in a timely fashion,” a spokesman for Austrian state holding company OIAG, which holds a 28 percent in Telekom Austria, said following Tuesday’s supervisory board meeting.

Tschuden’s contract runs until the end of March 2017 but with an option to terminate it two years early.

The CFO has been criticised internally for a too-generous dividend policy in the past as well as for a loss-making interest-rate swaps deal he entered into in 2010.

A decision over the extension of Tschuden’s contract has to be made by the end of March.

Telekom Austria, which may soon be the target of a takeover bid by Carlos Slim’s America Movil, slashed its dividend for 2012 and 2013 to 0.05 euros per share, and has made no announcement about its plans for 2014.

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