PostFinance appoints Kurt Fuchs as interim CEO
The search for a boss continues. At the beginning of March 2024, the CFO will initially take over management of the Swiss Post’s financial subsidiary.
The future interim CEO, 61-year-old Kurt Fuchs, has been PostFinance’s chief financial officer (CFO) since 2011.
Image: ZVG/Post Finance
The search for a new CEO for Postfinance is apparently difficult. The Swiss Post’s financial subsidiary has now appointed Postfinance CFO Kurt Fuchs as interim CEO at the beginning of March 2024. He will take over from the retiring CEO Hansruedi Köng until the new CEO takes up the position.
The company plans to provide information about Hansruedi Köng’s definitive successor in the first quarter of 2024, as Postfinance announced on Tuesday. Köng had already announced his resignation as CEO of Postfinance at the end of February 2024 last March. He wanted to create “space for something new” and give Postfinance time to carefully arrange the succession, it was said at the time.
Postfinance now admits in its announcement on Tuesday that it now needs more time than planned to find a successor for Köng. Filling a CEO position is a major challenge for many companies. “We are looking for the person who is best suited for this position and we are taking the necessary time to do so,” Chairman of the Board of Directors Marcel Bührer is quoted as saying.
The future interim CEO, 61-year-old Kurt Fuchs, has been Postfinance’s chief financial officer (CFO) since 2011. Since 2016, he has also acted as deputy CEO in this role. According to the statement, he has over 30 years of experience in senior positions in the financial sector of banks.
PostFinance suffered a significant decline in profits during the negative interest era. But even with the change in interest rates, the financial institution has not yet been able to achieve any improvement in profits. The rising interest rates have not yet been able to compensate for the loss of income from the negative interest rate environment, such as credit fees. Unlike other financial institutions, Postfinance is not allowed to grant loans such as mortgage loans.
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2023-12-05 10:33:15
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