Deutsche Telekom has appointed a new CEO to head its ISP subsidiary T-Online.
New boss Thomas Holtrop, was the former marketing director with Deutsche Bank's retail unit Bank 24.
However even as the appointment was announced yesterday, shares continued to drop 2.8 per cent to E16.58 (£10.12). Earlier yesterday stock reached an all time low yesterday of E15.50 (£9.46).
T-Online has seen its shares fluctuate along a downward trend since the summer resignation of former CEO Wolfgang Keuntje and other top executives.