"Quit while you're ahead" is not only an unwritten law for politicians and executives but was recently also the advice of a long-time companion of Deutsche Telekom CEO Tim Höttges. However, the 61-year-old, who was reappointed by the supervisory board two years ago for a third "term" until the end of 2026, shows resistance to advice and underscores the enthusiasm he expressed immediately after the contract extension: "I really feel like outshining my competitors now." This impulsive statement was not the first to come back to haunt the top manager, who has been steering the fortunes of the Bonn-based telecom giant for ten years. In 2011, when he served as the CFO, he made a lasting impression on the financial community by presenting his requirements for an auditor at the Schmalenbach Conference. The supervisory board had earlier assigned him the responsibility for selecting one. He stated that the auditor must be available to the CFO "around the clock, seven days a week" and actively advise in current decision situations.

The remark earned him plenty of criticism, but in retrospect, the incident became trivial because 2011 became a central milestone in the career of the current telecom leader for an entirely different reason. Höttges was considered the architect of the planned $39 billion sale of the then-ailing US subsidiary T-Mobile to competitor AT&T, which he orchestrated under the chairmanship of René Obermann. The mega-deal of 2011 spectacularly failed due to antitrust resistance, but it ultimately laid the foundation for the greatest triumph in Höttges' career. The record-high break-up fee of $3 billion, along with additional mobile spectrum worth another $3 billion, formed the basis for the reverse takeover of the publicly traded competitor MetroPCS by T-Mobile US. This move strengthened the mobile network operator and simultaneously led to listing on the NYSE.

Deutsche Telekom was honored with the Corporate Finance Award (CFA) by Börsen-Zeitung for this accomplishment, marking the first time the company received such recognition. The company was the first to have received this award twice, and the CEO can proudly claim credit for this achievement. The jury further honored another mega-deal by Deutsche Telekom in the US. One that, this time, was actually successful. In 2021, after years of tough negotiations, the company successfully completed the acquisition of Sprint by T-Mobile US. Today, it holds the majority in the largest telecom company in the world by market capitalization, in the largest and most innovative market in the world. This gives Deutsche Telekom a growth and earnings driver that is lacking for all other European heavyweights in the industry. Under Höttges' leadership, the company's share has gained around 80% in value, while the Stoxx Telecommunications Europe has fallen by 35%.

Hardly any transaction says more about the persistence, absolute determination, and steadfastness that undoubtedly characterize Höttges as CEO. The passionate economist, recognized for his affinity for numbers, doesn't necessarily win widespread approval with the latter. Even though his companion and confidant Thorsten Langheim, Head of USA and corporate development, has conveyed his directive "Contradict me!" Höttges, as per employees, is not inclined to hear opposition. He reacts impatiently to criticism, such as the claim that he still leads the entire Deutsche Telekom as an appendage of the finance department. The CEO has proudly referred to the company as an "M&A machine" at times, indicating that such portfolio work is at least as important to him as operational successes. His influence is evident in the withdrawal from European investments in the UK and the Netherlands, as well as sales with impressive multiples, such as that of the Scout Group.

The 61-year-old, brought to T-Mobile Deutschland by then-Telekom CFO Karl-Gerhard Eick in 2000, looks back on positions with financial responsibility as well as operational positions such as that of Germany's chief in the company. He took on this task at the end of 2006 when René Obermann replaced the unsuccessful Kai-Uwe Ricke at the helm of the company and entrusted Höttges with the turnaround of the struggling German business before he took over from Eick as CFO in 2009. In this role, he initially had a false start when the T-share lost 10% in a day after a profit warning, reaching a low of €8.66. The introduction of a three-year dividend promise with a concurrent cycle of capital market days significantly contributed to restoring his reputation in the community.

After ten years at the top, Höttges is undoubtedly also at the peak of his power. He would not remain true to himself if he did not influence the regulation of his succession. Telekom-Deutschland-CEO Srini Gopalan is considered his favorite. The 53-year-old has achieved what his two predecessors, Niek Jan van Damme and Dirk Wössner, did not. Neither of them managed to lead the Germany business to Höttges' satisfaction. He had them fired. Perhaps, the CEO does not think that Deutsche Telekom is still an appendage of the finance department after all.