Swisscom CEO Schloter Planned To Quit Company Before Death-Report

By John Revill

ZURICH--Swisscom AG's (SCMN.VX) late Chief Executive Officer Carsten Schloter was planning to leave the telecommunications company before he died because of tensions with his chairman, Swiss news magazine Bilanz reports.

Mr. Schloter, who was found dead at his home on July 23, had contacted at least three recruitment companies, the magazine reports in its edition published Friday. Police in the Swiss town of Freiburg, where Mr. Schloter lived, have said his death was suicide.

The 49-year-old German's relationship with chairman Hansueli Loosli was described as a war of attrition, the report said, citing unnamed friends of Mr. Schloter.

The article said Mr. Schloter had grown weary of interference from Mr. Loosli, who is also the chairman of the Swiss retailer Coop. The report quotes Mr. Schloter as saying to one of his friends: "I have much more management experience in international companies than this Swiss retailer."

Swisscom said Mr. Schloter had not given or received notification he would leave his job as group CEO, and gave his full backing to the company at a meeting in May 2013.

"Cooperation between the Board of Directors and Carsten Schloter was based on facts and marked by mutual respect," the Swisscom spokeswoman said. "Differences of opinion between the Board of Directors and the CEO were settled objectively."

Newspaper website: www.bilanz.ch

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