Swissair Group appoints new finance boss
The Swissair Group has appointed a new chief financial officer to replace George Schorderet, who has been criticised in the wake of the SFr2.9 billion ($1.63 billion) losses that the group reported in April.
She is 40-year-old Jacqualyn Fouse from the United States, who is currently group treasurer of the Nestlé food concern in Vevey, western Switzerland.
Fouse, who has been with Nestlé since 1986, will assume her new position on July 1, a Swissair Group statement said on Wednesday. She will be the first woman to serve on the Swissair Group’s top management board.
“I am very much looking forward to the exciting challenges that await me in my new role and to working hand-in-hand with the team of over 70,000 Swissair Group employees,” Fouse commented.
The statement added that Schorderet is to assume new responsibilities for special assignments within the Swissair Group. One of his main duties will be to help with an upcoming special audit which was demanded at the annual meeting of shareholders.
He will continue to report directly to chairman and chief executive, Mario Corti, who himself moved to the Swissair Group from his post as chief financial officer of Nestlé.
“I would like to thank Mr Schorderet for his loyal service to the Swissair Group,” Corti said. “And I am delighted to welcome such a skilled and qualified specialist as Ms Fouse to our team,” he added.
Meanwhile, the Swiss government and canton Zurich have formally demanded an enquiry into Swissair Group’s accounts. They hold a 3.1 and three per cent stake in the company respectively.
Other stakeholders have another 30 days to also ask for an independent audit of the account books which would establish whether the previous managers of the firm, formerly known as SAirGroup, failed to run the company diligently.
SAirGroup found itself in dire financial straits earlier this year. A change of leadership and name has given hope that it can pick itself out of the doldrums.
Swissair pilots agreed last month to a five per cent pay cut over the next two years in order to help the company get back on track. The pilots voted on the measure on April 25 with 775 votes for and 187 against.
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