Royal KPN N.V. Press Release: Maximo Ibarra resigns as KPN CEO

Today, Royal KPN announces that Maximo Ibarra resigns as CEO. He has given notice of termination of his contract, effective 30 September 2019.

Maximo Ibarra resigns for pressing family reasons and will move back to Italy where he will take up a new executive position. He will continue the next three months to work towards an effective transfer of his duties to a successor, yet to be identified.

His resignation is unrelated to the network outage experienced yesterday.

Maximo Ibarra, CEO of Royal KPN: "I have been with KPN since 2017, and appointed CEO in 2018. I regret the timing, but family reasons gave me no choice. I will dedicate myself the coming months to secure a seamless transfer to my successor."

Duco Sickinghe, chairman of the Supervisory Board: "The Supervisory Board regrets but respects Maximo's decision and accepts his resignation. The company is in good shape and is well on track to deliver on its strategy. We are in the process of identifying the right successor to Maximo. We wish Maximo all the best in his future endeavors."