T-Hrvatski Telekom announces Davor Tomaškovic as upcoming CEO

– CROATIA – T-Hrvatski Telekom (Reuters: THTC.L, HT.ZA; Bloomberg: THTC LI, HTRA CZ), Croatia’s leading telecommunications provider, announces that at today’s Supervisory Board meeting Ivica Mudrinic resigned as President of the Management Board (CEO) of Hrvatski Telekom d.d. (HT) to take the position of Deutsche Telekom’s Senior Vice President for Strategic Support to DT Europe and Technology Board Member and Board of Management in Bonn.

The Supervisory Board has appointed Davor Tomaškovic as his successor and he will assume the duties of President of the Management Board (CEO) of HT as of 1 January, 2014 for a term of four years.

Mark Klein, President of the Supervisory Board, said: “First of all I would like to thank Ivica Mudrinic for everything he has done for HT in his fifteen years at its helm. Under his leadership the company has transitioned from a state-owned monopoly to become not only a truly transformed telecommunications market leader in Croatia but also a technological frontrunner within the DT Group.

“The fact that Ivica Mudrinic is now leaving for DT headquarters is the best indicator of how much we value his successes, endeavors and knowledge, from which in the future both HT and the DT Group will gain direct benefit.

“I am confident that in these challenging times of economic crisis Davor Tomaškovic is the best possible choice as President of the Management Board of HT. I look forward to future cooperation with another excellent Croatian business leader.”

Ivica Mudrinic, outgoing President of the Management Board (CEO), said: “I am grateful to all my colleagues and employees of Hrvatski Telekom for everything we have achieved together over the past fifteen years, and to the company’s shareholders for their continuous trust in me. I am pleased that over the years we have succeeded in building a modern communications infrastructure that has moved Croatia higher in the global competitiveness rankings and on which the entire country’s economy rests. This is something of which we can all be very proud.

“I am certain that under the leadership of Davor Tomaškovic, whom I would once again like to warmly welcome to the company, HT will continue along the successful path that has earned it a special place on the domestic business scene, in the ICT industry and within the broader DT Group.”

Davor Tomaškovic, President of the Management Board (CEO) designate, said: “I am extremely pleased to be joining the team of one of the most successful and renowned Croatian companies. There are a number of challenges ahead of us as the industry undergoes significant changes, demanding rapid adjustments in the business to deliver the highest possible levels of efficiency.

“I am confident we will rise to meet these challenges and achieve strong business results as we continue building a successful future for HT, a Company that is one of the key drivers of the Croatian economy.”

About T-Hrvatski Telekom

T-Hrvatski Telekom (T-HT) is the leading provider of telecommunication services in Croatia, serving nearly 1.2 million fixed lines, 2.4 million mobile subscribers and 667,000 broadband connections through its Residential and Business divisions.

Since its initial public offering in October 2007, T-HT shares have traded on the Zagreb Stock Exchange, with global depositary receipts trading on the London Stock Exchange. T-Mobile Global Holding Nr. 2 GmbH (a company 100% owned by Deutsche Telekom AG) owns 51% of T-HT’s shares, with the War Veterans’ Fund owning 7% and the Pensioners’ Fund holds 3.5%. The remaining free float is in the hands of private and institutional investors.

About Davor Tomaškovic

Davor Tomaškovic was born in Vinkovci, Croatia in 1969. He graduated as an electrical engineer from the University of Zagreb in 1994. He subsequently completed an MBA program at Bocconi University in Milan, Italy, graduating summa cum laude in 1997. For over a decade Mr.Tomaškovic has occupied top positions at some of the most prominent Croatian companies.

Following his graduatio as an engineer he was employed at the Croatian Ministry of Science and Technology implementing the first internet network for academia. After his graduation from Milan, he worked in Austria, at the consultancy firm McKinsey & Company.

In 2002 Mr. Tomaškovic returned to Croatia assuming the post of Director of Corporate Strategy and Business Development at Hrvatski Telekom.

In 2004 he was appointed President of the Management Board of Tisak, a leading Croatian distribution and retailing company. Subsequent to successful implementation of an extensive restructuring process at Tisak, he assumed position of President of the Management Board of TDR, the regional tobacco industry leader, which position he has occupied for the past seven years.

Under his custody, TDR has retained its position of leadership in Croatia, and has also undergone significant expansion, both regionally and overseas during a dynamic and challenging period from both political and economic perspectives.

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