Ascom poaches financial director from EMS

Ascom's restructuring continues with new boardroom appointments swissinfo.ch

The Bern-based telecommunications technology group, Ascom, which is currently undergoing a major restructuring, has appointed Peter Germann as its new chief financial officer.

This content was published on April 23, 2001 - 10:53

Germann, who is finance director at the EMS Group, will take up his new position as worldwide head of Ascom Corporate Financial Services by September 30 at the latest.

The company said in a statement that Germann would bear particular responsibility for the future financing of the company. He replaces Olivier Audouard, who joined the group in March last year.

Ascom has undergone a series of management changes following a power struggle between two key shareholders - the estate of banker Ernst Müller-Möhl and the Hasler foundation, which had a voting majority without a majority stake.

Ascom, which this month reported a sharp drop in net income over last year, now has a single share structure and the Müller-Möhl estate is the biggest shareholder.

Fred Rüssli was appointed chairman last year with Urs Fischer taking up the post of chief executive in December.

"His proven success as CFO in a successful enterprise such as the EMS Group coupled with his extensive management experience make him the ideal choice to take over as Ascom's chief financial officer," said Fischer.

Germann has been with the EMS group since 1994. Prior to that, he was chief financial officer with the ASG Arbonia-Forster Group.

swissinfo with agencies

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