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KPN names Hageman new CFO

Tuesday - 7/3/2012, 3:12am  ET

AMSTERDAM (AP) - The Dutch telecommunications company Royal KPN NV says it has named the former head of its Belgian operations, Eric Hageman, as its new chief financial officer.

Hageman replaces Carla Smits, who quit in January after KPN decided to expand its executive management board in a crisis atmosphere. The company was under investigation for alleged cartel price fixing, and profits were sliding as customers with smartphones switched to mobile Internet-based telephone services rather than KPN's own offerings.

KPN said Tuesday Hageman was a banker before joining the company.

He has split the CFO job with another manager since Smits' departure.

Mexican billionare Carlos Slim is accumulating shares of KPN.

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