Magyar Telekom’s board of directors has decided to simplify its governance structure, effective January 1, 2020.
This will see the management committee’s tasks and responsibilities will be transferred to the board of directors on the one hand and to the CEO and deputy CEOs on the other. In addition, the board of directors has decided that, as of January 1, 2020, the small and medium enterprise segment as well as the consumer segment will be served by the integrated customer facing unit organisation.
Magyar Telekom says the management committee will be transformed, and in accordance with the agile methodology continue its work as the “leadership squad”. As a result of this change, the company’s management committee, as a decision-making body, will cease to exist with effect from the beginning of next year.
It adds that the objective of streamlining the management structure is to facilitate more effective senior management decision making in a changing market environment to enhance the company’s competitiveness and further improve customer service through agile operations. The company remains fully committed to maintaining the highest level of compliance with corporate governance practices.