Swiss Post CEO Michel Kunz has resigned after losing a power struggle with chairman Claude Bégléover the future strategy and direction of the postal operator. PostFinance chief Jürg Bucher will
replace him.“The Board of Directors of Swiss Post and CEO Michel Kunz have agreed to part company. Thismeasure is taken because of irreconcilable differences on principal issues,” Swiss Post announcedafter a board meeting last night. The board appointed Bucher as the new CEO with immediate effect.
According to Swiss media, the departure of Kunz follows a power struggle in recent monthswith high-profile board chairman Claude Béglé, who also took up his post in April this year. In thesummer, Béglé launched an in-depth review of Swiss Post’s strategy, positioning and prospects forthe mail, logistics and financial services businesses, and also secured a more active role for theboard of directors in running the organisation. Swiss Post has been hit by a sharp drop in mailprofits this year compensated by higher PostFinance profits, and also faces mail liberalisationwithin the next few years under a new postal law.
Béglé told Swiss media today that Kunz’s departure was the result of differences of opinionover how to respond to the downturn in the core mail business. Kunz wanted to focus primarily oncost savings and maintain a centralised organisation, while Béglé aims to find new growth areas byallowing the various business units to expand as part of a decentralised and diversified group. Atthe same time, the postal operator has to maintain its nationwide postal services and maintain asocial balance while operating efficiently, the board chairman explained.
Kunz, who had been with Swiss Post since 1994 in various managerial positions, was head ofthe mail and logistics businesses before replacing Ulrich Gygi as CEO in April this year. The boardthanked him for his commitment to the organisation over the years and wished him all the best forhis future career.
The new CEO, Jürg Bucher (62), who will also remain head of PostFinance, has worked in seniorpositions at PTT and Swiss Post for about 25 years, and since 2003 has been the head of PostFinanceand a member of Executive Management. Under his management, PostFinance has developed into SwissPost’s most profitable unit. Bucher benefited from profound knowledge of Swiss Post, was respectedby staff at all levels of the organisation and his appointment was also a tribute to the centralstrategic importance of PostFinance as the most profitable source of earnings at Swiss Post, thestatement said.
“In Jürg Bucher, the Board of Directors is welcoming a strong and very experienced CEO onboard. I look forward to working with him and the Executive Management as we tackle the greatchallenges that lie ahead for Swiss Post in the years to come,” Béglé said in the statement.
