Swisscom to announce new CEO this year

Swisscom to announce new CEO this year

Summary: Following the death of the telco's former chief executive, the company has confirmed it will appoint a successor in the coming months.

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TOPICS: Telcos, EU
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Swisscom is planning to appoint its new CEO before the end of the year.

The telco said on Tuesday that its board of directors had recently met to discuss finding a successor to Carsten Schloter, who was found dead last month. The role of interim CEO has been filled by Urs Schaeppi, the company's Swiss and corporate head.

"The board of directors has every confidence in Urs Schaeppi and the entire management team, with their wealth of experience in the ICT sector and also in the company itself. We have set up a nomination committee with the goal of appointing a definitive successor by the end of the year," Hansueli Loosli, Swisscom's chairman of the board, said in a statement.

The news came as the company announced its first half results. Revenue for the period was flat at CHF 5.6bn (€4.5bn), down 0.4 percent year-on-year, while EBITDA was down 5.5 percent  to CHF 2.1bn (€1.7bn).

"The decline was primarily due to general price erosion of around CHF 200m in Swiss business and lower revenue from roaming fees of around CHF 90m," the company said.

One high point for the company came from its IT services arm, which saw the value of its incoming contracts more than double year on year to reach CHF 402m (€326m) for the first half of 2013.

Topics: Telcos, EU

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