Magyar Telekom said that it will transfer the tasks of its management committee, in charge of the companyʼs day-to-day operations, to the chief officers and the board of directors, state news wire MTI reports.
The management committee, established in 2000 "to carry out the day-to-day operations in accordance with the annual business plan", will cease to exist as a formal corporate decision-making body as of January 1, 2020, but will be transformed into a "leadership squad".
The current tasks and responsibilities of the management committee will be reallocated to the chief officers and the board of directors.
"This streamlining of the Company’s management structure is designed to foster agile and effective decision making at the top management level," Magyar Telekom said.
At present, members of the management committee are CEO Tibor Rékasi, CCO for the retail business Melinda Szabó, CCO for the corporate business Zoltán Kaszás, CFO János Szabó, chief HR officer Zsuzsanna Friedl and chief tech and IT officer Lubor Zatko.
The only management committee member on the board of directors is Rékasi.
Magyar Telekom also said it would manage its SME business together with its retail business from the start of next year.