After years in control of Deutsche Telekom, and winning numerous boardroom battles, chief executive Ron Sommer has finally thrown in the towel.
Sommer explained that he was going because the supervisory board no longer believed in his strategies.
"If a management board chairman does not have the full trust of the supervisory board ... resignation is the only step," he said in a statement.
Deutsche Telekom had suffered from a huge debt load and falling profits.
Sommer claimed that, despite his resignation, the management board had approved a further cost-cutting programme in an attempt to reduce the company's net debt more quickly.
The supervisory board has yet to decide on a successor.
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