Magyar Telekom
(Reuters: NYSE: MTA.N, BÉT:
MTEL.BU and Bloomberg: NYSE: MTA
US, BÉT: MTELEKOM HB), the leading Hungarian telecommunications service
provider, today announces that, following his election as Chairman of the
Hungarian Financial Supervisory Authority and in line with the relevant rules
on conflict of interest, dr. Ádám Farkas, member of the Supervisory Board and
Chairman of the Audit Committee of Magyar Telekom, resigned from his positions
in the Supervisory Board and Audit Committee, effective as of July 30, 2009. At
the extraordinary meeting of the Audit Committee held on July 27, 2009, the Committee elected
dr. János Illéssy from amongst its members to replace dr. Ádám Farkas as
Chairman.
Investor Releases
2009. 08. 25. 12:48:40
Budapest, July 28, 2009
Christopher Mattheisen,
Chief Executive Officer and Chairman of the Board of Directors of Magyar
Telekom, expressed his appreciation for the work of dr. Ádám Farkas:
“On
behalf of the Board of Directors and the senior management of Magyar Telekom,
let me express our gratitude and appreciation to dr. Ádám Farkas for his dedicated
work as member of the Supervisory Board as well as the
Chairman of the Audit Committee from 2005. Through measures to reinforce
compliance and internal controls, dr. Farkas greatly contributed to Magyar
Telekom’s transparent and ethical operation and to best ensure the Company’s full compliance
with the strictest requirements of the Hungarian and international law and
stock markets. We wish him every success in his new position.”
With
the effect of July 30, 2009,
Ms. Éva Őz, employee representative, also resigned her membership from the
Supervisory Board so that the composition of the Supervisory Board continues to
comply with the requirements on independence as set forth in the relevant laws.
Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors are described in, among other things, our Annual Report on Form 20-F for the year ended December 31, 2008 filed with the U.S. Securities and Exchange Commission.
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