Telefonica Deutschland, which is in the midst of a major takeover of rival E-Plus, has announced that CEO Rene Schuster (pictured) is leaving the company tomorrow (31 January).

Given the purchase of its domestic rival from KPN is ongoing, the timing looks surprising. Telefoncia said a mutual agreement had been struck with Schuster.

Schuster, who has been with Telefonica since 2009, is a well-known figure in the mobile industry having previously served as Vodafone’s global marketing director. He will remain in an advisory role to Eva Castillo, chair of Telefonica Deutschland’s supervisory board.

His CEO responsibilities will be shared jointly between Rachel Empey, Telefonica Deutschland CFO, and Markus Haas, the chief strategy officer. The two will jointly lead the company’s management board. The announcement does not mention a full replacement for Schuster being sought.

The company currently faces an in-depth investigation by the European Commission into its proposed acquisition of rival E-Plus, a benchmark takeover deal for the mobile industry in Europe.