The chairman of Swiss mobile operator Sunrise Communications (SIX:SRCG) has died.
Dominik Koechlin passed away unexpectedly on 12 July following a rapid deterioration in his health, according to a statement from Sunrise. He was 56.
“Dominik’s…
The chairman of Swiss mobile operator Sunrise Communications (SIX:SRCG) has died.
Dominik Koechlin passed away unexpectedly on 12 July following a rapid deterioration in his health, according to a statement from Sunrise. He was 56.
“Dominik’s death is a tragic loss for all of us,” said Sunrise’s vice chairman Lorne Somerville.
“He has been a constant source of wisdom, generosity and kindness throughout his time with us. We offer his family our deepest and most sincere condolences.”
Koechlin was appointed as chairman of Sunrise after London-based private equity firm CVC Capital Partners acquired the operator in 2010. A Swiss citizen, Koechlin also sat on the board of local chemicals company Clariant AG.
The board has made Somerville, CVC’s head of TMT, chairman until the company’s next AGM. Board member Peter Schopfer has been appointed vice chairman for the same period.
Koechlin was previously an independent director at Swissmetal AG, EGL AG, Plant Health Care plc and several private companies. Until 2000, he was member of the executive committee of incumbent operator Swisscom AG.
As chairman of Sunrise, he oversaw the Zurich-based telco’s initial public offering on the SIX Swiss Exchange earlier this year. CVC retained a sizeable minority stake following the IPO and is now halfway through a 12-month lock-up period before it can sell any more shares.
It has been speculated that Sunrise and competitor Salt – the operator formerly known as Orange Switzerland which was bought by French investor Xavier Niel last December – could seek to merge.
A previous attempt to combine the operators was rejected by the local antitrust authority in 2010.
