Olaf Swantee is replaced by André Krause, on the right, at the head of Sunrise.
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The unsurprisingly predictable resignation of Olaf Swantee, CEO of Sunrise, is probably not good news for the Swiss telecoms market. Whoever had skillfully positioned Sunrise leaves a dynamic company, but very dependent on its main shareholder…
The simultaneous announcement of the departure of the CEO and of Peter Kurer and Peter Schöpfer, respectively chairman and vice-chairman of the board of directors, seems to be a clear signal. The scalded artisans ofaborted absorption of UPC obviously had to leave …
Divergence of views: Sunrise-Freenet
Recall that they did not share the same views as Freenet, the main shareholder of Sunrise, opposed to this operation. Rather incredible and surprising episodes on the Swiss telecoms market had an almost amusingly colorful weather which was undoubtedly the 2019 telecom saga!
In one communicated released early Friday morning, Sunrise announced the appointment of André Krause to replace Olaf Swantee. The German citizen joined Sunrise in 2011 as finance manager (CFO). He completed the company’s IPO in 2015 and oversaw the sale of antenna mastss to generate cash…
Telecoms experience
Previously, André Krause worked at Telefónica O2 Germany, where he was CFO from 2006 to 2011. Before that, he worked as a consultant for McKinsey and Arthur Andersen. He holds a BA in economics from the University of Applied Sciences Bielefeld.
André Krause succeeds Olaf Swantee with immediate effect. The latter should ensure a smooth change of direction by supporting his successor until the next annual general meeting in April, according to the same text intended for the press, which seems very reassuring.
Sunrise in the shadow of Freenet
Obviously, the new boss of Sunrise should continue the current strategy without UPC. The appointment of the new chairmen and vice-chairmen of the board of directors will however be a decisive step. It should allow the main shareholder to strengthen their views, not necessarily the best for the long term future of Sunrise.
One can imagine that this new direction follows a “very financial” course with probably a strong accent on the profitability in the short term. Sunrise may well have to continue to evolve in the shadow of Swisscom, on which it depends so heavily on its infrastructure …
Xavier Studer
