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Business

Newspaper: Deutsche Telekom's CEO Search May Be Over

The "Frankfurter Allgemeine Zeitung" newspaper is reporting in its Saturday issue that senior members of Deutsche Telekom's advisory board have settled on Kai-Uwe Ricke to replace ousted CEO Ron Sommer. Ricke currently serves on Telekom's board and is responsible for its mobile communications and online divisions. The newspaper quoted sources saying the committee would recommend a vote on Ricke before the company's board of directors next Thursday. Ricke's name began circulating early after Sommer's departure in July, but the 43-year-old was considered too young by some and too close to Sommer, under whom he served as a protégé.