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Magyar Telekom to restructure management in 2020; CFO to depart

Hungarian telecommunications service provider Magyar Telekom will revamp its leadership structure in 2020.

Effective Jan. 1, 2020, the company's existing management committee will be disbanded, with its duties redistributed to the company's directors and executive officers. The change is aimed at simplifying the company's corporate governance structure and improving the decision-making process, Magyar Telekom's board said in a statement.

Additionally, CFO János Szabó will step down from his role, effective Feb. 29, 2020. Darja Dodonova will become CFO effective March 1, 2020. Dodonova most recently was a vice president of technology controlling for Deutsche Telekom's European operations.

Magyar Telekom's board also announced that a new customer-facing unit will manage the company's residential customers and clients from small and medium-sized businesses beginning in 2020.