The Board of Directors at Swiss telco Sunrise has announced that Olaf Swantee has decided to resign as CEO of Sunrise after almost four years with the company. André Krause, up to now CFO at Sunrise, succeeds Olaf as CEO, effective immediately.
Krause joined Sunrise in 2011 and has been instrumental in its transformation. As CFO, he drove the company through its successful IPO in 2015, and the subsequent sale of its tower assets. He has deep telecom industry expertise gained during his time at Sunrise, and at Telefónica O2 Germany, where he was CFO from 2006-2011. Prior to that, he held consulting roles with McKinsey and Arthur Andersen.
Swantee will support Krause until the Annual General Meeting 2020 in April to ensure a smooth leadership transition.
The Board also has also announced that Peter Kurer and Peter Schöpfer have decided not to stand for re-election, as Chairman and Vice-Chairman of the company respectively, at the 2020 Annual General Meeting.
Kurer has been Chairman since April 2016 and successfully oversaw the complete transformation of Sunrise. He will continue to act as Chairman and support André until the 2020 Annual General Meeting. Schöpfer has been Vice-Chairman and Chairman of the Nomination and Compensation Committee since 2015 and is one of the longest serving non-executive directors at Sunrise.