The Supervisory Board of Tele Columbus has appointed Dr Daniel Ritz as Chief Executive Officer (CEO) and Member of the Management Board effective February 1st.
As previously announced, Timm Degenhardt has decided not to prolong his contract and will step down as CEO on January 31st.
Ritz was most recently President & CEO of PTCL, the telecom incumbent in Pakistan. During this three-year tenure between 2016-2019, the company went through a successful turnaround which brought it back to revenue growth for the first time in several years. In addition, Ritz was also the CEO of PTCL Group which includes a mobile operator and a microfinance bank. Prior to this, he was with Etisalat Group based in Abu Dhabi where he was Chief Strategy Officer and Member of the Group Executive Board from 2012 to 2016. Overseeing group-wide strategy, business development and mergers & acquisitions, he also played a key role in shaping and managing a broad portfolio of international subsidiaries across Africa, Middle East and Asia.
Dr Volker Ruloff, Chairman of the Supervisory Board of Tele Columbus AG, stated: “We are very happy to have won with Dr Daniel Ritz a highly qualified and experienced manager. With a strong background in strategy and transformation, Daniel is also truly familiar with the telecommunications sector in which he held several key management positions over the past 14 years. Together with him, we would like to continue on the embarked growth path for Tele Columbus. At the same time, we are very thankful for Timm’s great effort and his tireless commitment. He initiated and drove the turnaround over the past two and a half years. We wish him all the best for his future.”