Magyar Telekom Nyrt deputy CEO Tamás Pásztory will resign from his post at Hungary's largest phone operator by March 30.
Pásztory, who has worked at the Budapest-based unit of Deutsche Telekom AG since 1990, was Magyar Telekom Nyrt's chief human resources and legal officer, the company said in a bourse statement today. The departure was mutually agreed upon, the company said. His resignation comes one and a half months after former CEO Elek Straub, the longest serving head of a national phone company in Europe, left the company after 11 years.
Straub, who resigned amid a probe into contracts at the company's Montenegrin unit, was replaced by Christopher Mattheisen who formerly headed the company's fixed-line business. Since 1990, Magyar Telekom was transformed from a state-owned monopoly known as Matáv to a $5.3 billion company (€4 billion), eastern Europe's second-largest behind Telekomunikacja Polska SA of Poland. Magyar Telekom spent Ft 3.1 billion ($16 million) on the investigation at its Montenegrin unit, which began a year ago after auditor PricewaterhouseCoopers questioned two contracts at the subsidiary which exceeded the value of agreements. (Bloomberg)