Magyar Telekom Tavkozlesi : CEO Resigns

Budapest,April 24, 201808:00

Budapest - April 24, 2018 - Magyar Telekom (Reuters: MTEL.BU and Bloomberg: MTELEKOM HB), the leading Hungarian telecommunications service provider, hereby announces that its Chief Executive Officer Christopher Mattheisen will leave the Company as of July 1, 2018. Tibor Rékasi will be Magyar Telekom's new Chief Executive Officer.

At its meeting on April 23, 2018, the Board of Directors of Magyar Telekom approved, at his request, the termination of Christopher Mattheisen's employment contract and appointment as Chief Executive Officer as of July 1, 2018. As at the same date, Christopher Mattheisen also resigns as member of the Board of Directors.

The Board of Directors has appointed Tibor Rékasi as Chief Executive Officer from July 1, 2018. The new Chief Executive Officer will also become a member of Magyar Telekom's Board of Directors effective on July 1, 2018.

Christopher Mattheisen has been Magyar Telekom's Chief Executive Officer since December 2006, as well as a member of the Board of Directors, including many years as its Chairman. Before that, he served as deputy CEO in charge of the fixed-line division for four years; also within the Group, he had led sales and marketing at Westel 900 for the first three years of its operation.

Tibor Rékasi has been Chief Commercial Officer Residential Services at Magyar Telekom since January 2017. Before that, from October 2013, he was Chief Commercial Officer Enterprise of Magyar Telekom and CEO of T-Systems Magyarország Zrt (TSM). From October 2012 until September 2013 he was the Chief Sales Officer of TSM. He joined Magyar Telekom Group in September 2008 as Managing Director of IQSYS Zrt., a subsidiary of Magyar Telekom.

The Board of Directors has also decided on the successor of Tibor Rékasi: the new Chief Commercial Officer Residential Services, as of July 1, 2018, will be Melinda Szabó. Until recently, Melinda Szabó was Head of SOHO/SME Sales and Marketing at Vodafone Hungary. Previously, she had worked for Westel/T-Mobile and Magyar Telekom in different management positions; in 2010 she became Consumer Business Marketing Director at Magyar Telekom.

This investor news may contain forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore should not have undue reliance placed upon them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors are described in, among other things, our Annual Reports for the year ended December 31, 2017 available on our website at http://www.telekom.hu.