Deutsche Telekom appoints Claudia Nemat in charge of European strategy

Deutsche Telekom appointed this month Claudia Nemat as head of Europe, according to a Bloomberg piece called Deutsche Telekom USD5.6 Billion Greek Debt Weighs on Nemat’s Turnaround Plan.

Nemat may present a strategy for Greece and the other European countries in early 2012, adds Bloomberg, quoting a source. 

“Hellenic Telecommunications Organization SA (HTO) has dropped 84 percent since Deutsche Telekom AG (DTE) began buying shares in the Greek operator in 2008. The German owner will now accelerate a turnaround of the company to recoup some of the 4 billion euros ($5.5 billion) in investments,” says Bloomberg.

 The piece analyses the company’s strategy and how the crisis in Greece weighs down on its revenues, given the fact that Deutsche Telekom owns a 40 percent stake in Greek company OTE, that controls in Romania telecom operators Romtelecom, Cosmote and IT&C retailer Germanos.   

 “Claudia Nemat, the McKinsey & Co. consultant who took over this month as Deutsche Telekom’s head of Europe, spent part of her first week in Athens, where she said in an interview she is “keen to develop the asset” because OTE, as the unit is known, is among the Bonn-based company’s most important operations,” says the Bloomberg piece.

Read more about

Romanian Olympic Team departs for Paris aboard specially named aircraft “Nadia Comăneci”

read more

 “In addition to slowing client losses and cutting wages in Greece, Nemat, 42, will need to push for more drastic measures such as asset sales, analysts say,” quoted by Bloomberg.

“The Athens-based company had the worst mobile- and fixed-line customer losses among all divisions, ceding 1.2 million Greek clients in the 12 months through June as the government imposed austerity measures to stave off a default. Third-quarter revenue probably dropped 8.4 percent from a year earlier, the average of two analyst estimates compiled by Bloomberg showed. Writedowns in Greece and Romania contributed to a surprise loss at Deutsche Telekom in the final quarter of 2010,” says the article.

CV Claudia Nemat

 Claudia Nemat, born in 1968, has been a member of the Board of Management of Deutsche Telekom AG since October 2011 and is responsible for the Board area Europe, according to the information posted on the company’s website.

 Before joining Deutsche Telekom, Claudia Nemat spent 17 years working for the consultancy McKinsey&Company. In her last position there, she was responsible for the high-tech sector in Europe, the Middle East and Africa.

 In addition, Claudia Nemat was responsible for projects in the fields of information and communication technology integration (ICT), sustainable IT, as well as medical technology for international companies. As a consultant, Claudia Nemat also worked on corporate leadership and performance culture as well as on questions regarding the influence of diversity on a company’s performance.

 Claudia Nemat studied physics at the University of Cologne, where she also once taught at the department of theoretical physics and mathematics.

Otilia Haraga