• Switzerland's news in English
 

Lufthansa chief to take over as Roche chairman

Published: 16 Sep 2013 09:05 GMT+02:00

"Christoph Franz has informed Deutsche Lufthansa AG that he is not available for an extension of his contract as chairman of the executive board and CEO," Lufthansa said in a statement.
   
Switzerland's Roche said in a statement that Franz has been nominated to succeed its chief Franz Humer, who plans to retire early next year.
   
Roche said Franz would be proposed formally to its shareholders at the group's annual meeting on March 4th.
   
Franz said he was "delighted" to be joining the Basel-based giant.
   
"Roche is an outstanding company," Franz said.

"As a board member I have had ample opportunity to get to know and admire its strong business performance and corporate culture," he said.

"Strategically, Roche is in very good shape, and I am looking forward to taking on this opportunity."
   
Humer, a 67-year-old Austrian and Swiss dual citizen, has been with Roche since 1995.
   
He became chief operating officer in 1998 and chairman in 2001.
   
Humer lauded 53-year-old Franz, saying that Roche was "getting a chairman with outstanding personal qualities and an impressive record as head of a major global company".
   
Swiss-based analysts Helvea echoed that, saying Franz's track record was crucial and that "the proposed election looks to be positive for Roche's future".
   
Franz's intentions to leave Germany's flagship carrier, which he has headed since January 2011, were first reported on Sunday in the Die Welt online edition, which quoted his inner circle.

Switzerland's Neue Zürcher Zeiting had meanwhile said he was poised to take over at Roche.
   
Franz has carved out his career in the transport sector, having moved between Lufthansa and German rail company Deutsche Bahn.
   
But the German also knows the pharmaceutical sector from serving on Roche's supervisory board since 2011.
   
He has strong ties with Switzerland, having led the Lufthansa-owned company Swiss International Air Lines from 2004 to 2009, turning around the airline which was crafted from defunct carrier Swissair.
   
Franz said the decision to leave — after 15 years in the Lufthansa group —  was "anything but easy".
   
"I like working for this company," he said.

"But for career reasons, I have decided to end my work for the Lufthansa group once my contract expires in May 2014."
   
By that time, the airline's restructuring programme and key investment decisions "will have laid the foundation for Lufthansa's future success," Franz said.

"That is a suitable time for a change in management," he added.
   
Lufthansa's supervisory board chief Wolfgang Mayrhuber said he "regretted" Franz's decision to quit.
   
Investors appeared somewhat unnerved over Lufthansa's future after the announcement.
   
The airline's shares were among the few losers on the blue-chip DAX index on the Frankfurt stock exchange, slipping by 0.25 percent while the overall market was up 1.19 percent.
   
On Zurich's SMI, Roche's stock rose 0.59 percent while the overall index was up 0.56 percent.

Your comments about this article

Today's headlines
Huge blaze breaks out in Thurgau warehouse
Photo: TVO Online

Huge blaze breaks out in Thurgau warehouse

More than 100 firefighters tackled a fire at a storage depot in Horn, in the canton of Thurgau, on Monday morning. READ  

Swiss bishop slammed over anti-gay speech
The cathedral in Chur.

Swiss bishop slammed over anti-gay speech

Switzerland's gay and lesbian community has reacted angrily after the ultra-conservative Bishop of Chur quoted passages from the Bible which condemn homosexuals to death. READ  

Thiem wins Swiss Open for third career title
Dominic Thiem serving on his way to victory. Alain Grosclaude / AFP

Thiem wins Swiss Open for third career title

Austria's Dominic Thiem claimed his third career ATP title when downing top seed David Goffin 7-5, 6-2 in the Swiss Open final on Sunday. READ  

Lausanne gets 2020 Winter Youth Olympics
Lausanne in winter. Photo: OTV/L Ryser

Lausanne gets 2020 Winter Youth Olympics

The Swiss city of Lausanne will host the third Winter Youth Olympic Games in 2020, the International Olympic Committee (IOC) announced on Friday. READ  

Swiss Siberia ends July with below-zero night
The village of La Brevine is known as the Siberia of Switzerland. Photo: Caroline Bishop

Swiss Siberia ends July with below-zero night

The hot weather across Switzerland in July may have broken records, but in the early hours of July 31st one village lived up to its frosty reputation when the temperature fell below zero. READ  

New SwissPass could lead to job cuts: union
SwissPass launches on August 1st. Photo: SBB

New SwissPass could lead to job cuts: union

The new SwissPass railcard, which launches on August 1st, could put ticket office jobs in jeopardy says transport staff union SEV. READ  

Naked performers take to Swiss city’s streets
The festival will stage performances in public places around the city. Photo: W Winkler

Naked performers take to Swiss city’s streets

Visitors to Biel/Bienne may be in for a surprise on August 21st-22nd as the Swiss city hosts the world’s first naked performance festival in the city’s streets. READ  

Swissport to be sold in multi-billion franc deal
Photo: AFP/Nicolas Maeterlinck

Swissport to be sold in multi-billion franc deal

Private equity company PAI Partners announced Thursday it is selling Zurich-based airport ground handling and cargo company Swissport International to China's HNA Group for 2.7 billion Swiss francs ($2.8 billion, 2.54 billion euros). READ  

Missing Swiss cats spark record helpline calls
Missing cats concerned 85 percent of calls. Photo: Dennis Jarvis

Missing Swiss cats spark record helpline calls

Switzerland’s recent heatwave resulted in a record number of cats going walkabout in the months of June and July, according to Swiss animal call centre STMZ. READ  

Swiss researcher creates yarn from abattoir waste
The yarn was spun from a gelatine-based thread. Photo: ETH Zurich

Swiss researcher creates yarn from abattoir waste

A PHD student at the Federal Institute of Technology (ETH) Zurich has devised a fibre with similar properties to merino wool from gelatine gathered from slaughterhouse waste. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
National
10 amazing places to be on Swiss National Day
National
Swiss army pilfers French water to give to thirsty cows
Sponsored Article
Outsourcing drives Apreel's Europe growth
National
The Expat Guide: Moving to Switzerland
National
Swiss army airlifts water to thirsty cows
International
Canary Islands: diver killed in collision with Swiss windsurfer
National
VIDEO: Seagull steals camera for amazing bird's eye selfie
Switzerland celebrates first ascent of Matterhorn
Politics
Immigrant recruits may not be loyal: Army chief
Solar Impulse 2 round-the-world flight halted for repairs
Society
Teenager gets high on vegetarian meal at Zurich club
Sponsored Article
Crans-Montana: International expat hub
Sponsored Article
Geneva's revolutionary marketing education
National
Greece seeks tax revenues from assets 'hidden' in Swiss banks
Culture
Paris police arrest Swiss artist for naked Eiffel Tower selfies
National
Scientists uncover largest Swiss dinosaur skeleton ever found
National
National weather office extends danger alerts as heatwave takes hold
National
Most severe heatwave in Switzerland since 2003 on the way
Travel
Bogglingly expensive Geneva club sandwiches remain 'priciest in world'
Politics
Anti-immigration nationalist party remains most popular: poll
National
Greek finance minister slams Swiss over lack of tax evasion info
Business & Money
Insects proposed for sale in Swiss supermarkets next year
National
'Oh God — I'm coming': noisy lovers' complaint goes public
National
Canton of Ticino threatens closing Italy border to asylum seekers
National
Just in case: Swiss National Bank prepares for Grexit 'crisis'
National
Russian crisis fuelled by sanctions threaten 40,000 Swiss jobs: study
National
Art Basel: Art for art's sake — or to make an investment?
National
New survey ranks Zurich Europe's priciest city for expatriates
National
Quarter of residents in Switzerland 'have multiple homes'
Features
Veggie lovers and 'flexitarians' challenge Swiss meat-eating habits
National
Forest officials struggle to save Switzerland's dying ash trees
Education
Historian finds ancient Egyptian papyrus texts in Basel uni library
National
Seven large Swiss employers back 'flexible work' charter
National
Basel police rescue of ducks forces closure of A2 motorway
National
Mother and daughter die as rain storms lash central Switzerland
Sport
'Stan the man' Wawrinka: French Open triumph 'completely crazy'
Culture
Expat's Zurich 'then and now' video shows how little the city has changed
National
Phoney Geneva police officers rob tourists and UN staff
Sport
Blatter's abrupt resignation seen as a 'stunning capitulation'
Features
Cleanup crews head to ski resorts to keep Swiss mountains tidy
Culture
Interlaken museum showcases works by Picasso using Caran d'Ache pencils
National
Low interest rates give tenants right to seek rent reductions in Switzerland
Sport
Switzerland's Blatter fends off critics to win fifth term as Fifa president
National
Agricultural researchers discover why Swiss cheese has holes
Culture
Swiss filmmaker returns home to shoot 'gender-fluid' film in Ticino
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

3,338
jobs available