[Techtaffy Newsdesk]

Deutsche Telekom CEO René Obermann is stepping down as CEO at the end of the month. Chief financial officer Timotheus Höttges is succeeding René Obermann as of January 1, 2014 as the new.

René Obermann: I want to go back to having more time for customers, for product development and for technology.

According to a statement from the company, Mr. Obermann is stepping down as CEO to move closer to operational activities than would otherwise be possible for the CEO of an international corporate group. He is expected to take on even more entrepreneurial activities, though no specifics were shared.

Mr. Obermann is leaving Deutsche Telekom after 16 years, of which he spent seven at the head of the company and 11years as a member of the board.