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T-Online executive quits
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November 10, 2000: 9:53 a.m. ET
Shares in Europe's largest ISP plunge after another board member quits
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LONDON (CNNfn) - T-Online International AG, Europe's largest Internet service provider, gave shareholders an increasingly familiar piece of bad news Friday, saying it lost its fourth senior executive since August - and sending its shares tumbling to a record low.
T-Online parent Deutsche Telekom AG gave no reason for the resignation of Bernd Reichert-Berg, board member responsible for sales and service.
He will be replaced by Veronika Altmeyer of the German telecom firm's T-Nova unit. She will be in charge of its newly created human resource and legal affairs division. Reichert-Berg's responsibilities will be temporarily handled by the entire board, Deutsche Telekom said.
Shares in T-Online (ATOI) fell  1.58 to 19.55, down 59 percent from its year high of 48 reached in May. They earlier traded at a record low of 19.50.
Deutsche Telekom (FDTE), which owns 81.7 percent of T-Online, fell 4.2 percent, or 1.68, to 38.50.
Wolf Keuntje, who ran T-Online and its predecessor company since 1996 and steered it through Europe's largest Internet IPO in April, resigned as chief executive in August. Ralf Eck, the firm's management board member for marketing, and chief financial officer Christian Hoening both quit in September. 
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