Swisscom chief quits after clash with government

20 Jan 2006

Jens Alder, the chief executive of Swisscom, has resigned just months after the government pulled the rug from under his feet over his plans to expand the company beyond national borders. In November the government, which owns 66.1% of the telco, said it would block any foreign takeovers, forcing Swisscom to withdraw from talks to acquire Irish PTO Eircom, with whom it was negotiating a EUR4 billion takeover. Alder’s replacement has been named as Carsten Schloter, the former head of Swisscom Mobile.

Switzerland, Swisscom