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Jan ,
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Swiss set for big day in Brussels
[
May 19, 2004 00:42]
| www.swissinfo.org
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Switzerland inches closer to EU
[
May 18, 2004 00:32]
| http://www.swissinfo.org
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Army rifles remain racked at home
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May 17, 2004 00:32]
| www.swissinfo.org
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Tourism tries the hard sell
[
April 21, 2004 01:49]
| www.swissinfo.org
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Swiss names new CEO
[
April 19, 2004 23:00]
| www.swissinfo.org
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Switzerland’s troubled national airline, Swiss, has named a German, Christoph Franz, as its new CEO.
Franz, who takes up his position in July, previously worked for the German airline, Lufthansa, and Germany’s national rail service, Deutsche Bahn. Franz was chosen from a final shortlist of six. The selection process was lead by Swiss chairman and acting CEO, Pieter Bouw, a former boss of the Dutch carrier, KLM.
"Swiss chose Christoph Franz because of his track record in various sectors of the transport industry," the airline said in a statement.
"His specific know how in the field of turnaround management was also a deciding factor in his favour."
Among the 43-year-old's credentials are several senior posts at Lufthansa, including as a member of the team that oversaw the airline’s restructuring programme in the 1990s.
At Deutsche Bahn, Franz also held a range of positions, including member of senior management.
Restructuring
Franz's appointment ends more than a month of speculation over who would replace AndrÊ DosÊ. He unexpectedly stepped down in March, after becoming entangled in an investigation into a Crossair plane crash two years ago.
Franz, who will start work at Swiss at the beginning of May, will have his hands full proving he is able to turn the airline’s fortunes around.
But Swiss says that both it and the government are confident Franz is up to the job.
“The government is sure that Christoph Franz will lead the airline through its restructuring programme and secure the company a strong place in the market,” Swiss said in its statement.
Swiss has been wracked with financial woes since it took to the skies in 2002.
Last year, the airline reported an operating loss of SFr498 million ($386 million) - an improvement compared with 2002, when it lost SFr909 million.
Positive reactions
The Swiss business Federation, economiesuisse, said it was certain Franz could lead the airline into the black.
Switzerland’s political parties also welcomed the decision, on the whole, especially the fact that the appointment was made so quickly.
The centre-left Swiss Socialist Party said it was “inconceivable that Swiss remain without a CEO for months on end”.
The newly appointed president of the centre-right Swiss Radical Party, Rolf Schweiger, said that it was “a positive sign that Franz had previously worked in the transport sector.”
However, there was some surprise at the choice, as Franz is relatively unknown in Switzerland.
Up to the job?
Aviation expert, Sepp Moser, was more sceptical, saying the appointment would make no difference to Swiss's fundamental problem of being too big for its market.
Moser also questioned Franz's credentials.
"He has no executive experience. That doesn't mean he has got to be bad," he said. "But that is not the problem, the problem is the structures and financial situation."
swissinfo with agencies |
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University reaches for the stars
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April 19, 2004 00:58]
| www.swissinfo.org
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Blatter defends the “beautiful game”
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April 16, 2004 02:28]
| www.swissinfo.org
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Environment agency stretched by budget cuts
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April 15, 2004 02:28]
| www.swissinfo.org
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