March 23 (SeeNews) - Macedonia's largest telecommunications group Makedonski Telekom [MSE:TEL] said its chief executive officer (CEO), Andreas Maierhofer, is leaving the company and a new CEO is to be elected on May 1.
The procedure for election and appointment of a new CEO of Makedonski Telekom is underway, the company said in a statement on Wednesday.
Andreas Maierhofer assumes the position of CEO of T-Mobile Poland, Makedonski Telekom also said.
Maierhofer started working in 1987 at the Telekom Austria Group and since then he has held various management positions. He was appointed CEO of Makedonski Telekom in 2014.
Makedonski Telekom posted a net profit of 1.04 billion denars ($18.2 million/16.9 million euro) in 2016, down 17% compared to the previous year. It had operating revenues of 10.6 billion denars and operating costs of 9.4 billion denars in 2016.
Magyar Telekom, a subsidiary of Deutsche Telekom, owns 51% of Makedonski Telekom via its fully-owned unit Stonebridge Communications, while the Macedonian government holds a 34.8% stake. Makedonski Telekom's only competitor in the country of some 2 million people is one.Vip, a unit of Telekom Austria.
(1 euro = 61.48 denars)