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Sunrise, burdened by high debts of CHF 4.6 billion and significant losses totaling CHF 662 million since its merger, continues to award exorbitant bonuses to its management, including CHF 15 million to CEO André Krause linked to the recent IPO. This Americanization of corporate culture raises concerns, especially as the company has cut 600 jobs while three of its seven board members are U.S. citizens. Despite stagnant sales and a mountain of leasing contracts, the company’s balance sheet shows a risky goodwill of CHF 6 billion, indicating potential for severe write-downs.
UBS CEO Sergio Ermotti's total compensation rose to CHF 14.9 million last year, comprising a fixed salary of CHF 2.8 million and variable components of CHF 12.1 million. Despite this increase, he remains below Novartis CEO Vas Narasimhan, who earned CHF 19.2 million. UBS Chairman Colm Kelleher defended Ermotti's pay, citing the challenges he faced, while acknowledging public discontent over high executive salaries, especially following a recent motion to cap compensation in the banking sector at CHF 5 million.
UBS CEO Sergio Ermotti's salary rose to CHF 14.9 million last year, a 3.7% increase from CHF 14.4 million for nine months in the previous year. While he remains one of the highest-paid executives, he is outpaced by Novartis CEO Vas Narasimhan at CHF 19.2 million. UBS Chairman Colm Kelleher defended Ermotti's compensation, citing the challenges he faced in his role.
UBS CEO Sergio Ermotti's total compensation for the past year reached 14.9 million francs, comprising a fixed salary of 2.8 million francs and variable components of 12.1 million francs. While his pay has sparked debate, it remains lower than Novartis CEO Vas Narasimhan's 19.2 million francs. UBS Chairman Colm Kelleher defended Ermotti's salary, citing the challenging circumstances he faced, but acknowledged underestimating public reaction to such high compensation levels.
UBS CEO Sergio Ermotti received a staggering salary of 14.9 million francs for 2024, as revealed in the bank's annual report. This follows last year's remuneration of 14.4 million francs for just nine months of work, sparking renewed criticism over excessive executive pay in Switzerland. The Swiss parliament is considering a salary cap for bankers, reflecting growing discontent with high salaries in the financial sector.
UBS CEO Sergio Ermotti earned CHF 14.9 million in 2024, slightly up from CHF 14.4 million in 2023, despite only working nine months after returning from Swiss Re. The bank reported a net profit of $5.1 billion and cost savings of $7.5 billion, while discussions on capping bank salaries continue.
UBS CEO Sergio Ermotti's salary for 2024 has risen to CHF 14.9 million, sparking renewed criticism over executive pay in Switzerland. The Council of States is considering a salary cap for bankers, which has raised concerns about government intervention in the financial sector. UBS reported a net profit of $5.1 billion and has made significant cost reductions, yet debates over high salaries continue to dominate public discourse.
Sunrise, a telecoms company, has successfully returned to the SIX Swiss Exchange after being delisted in 2021 due to its acquisition by Liberty Global. Trading commenced at 44.75 Swiss francs, valuing the company at approximately 3.29 billion francs, making it one of the largest IPOs of the year. CEO André Krause emphasized the company's focus on growth and a progressive dividend policy, with Liberty Global retaining a significant stake in Sunrise.
Sunrise is set to return to the Swiss stock exchange on November 15, aiming for a high dividend payout while managing a significant debt load. CEO André Krause emphasizes the company's growth potential and competitive edge over Swisscom, despite challenges in a stagnating market. Liberty Global's influence remains a point of contention, but Sunrise plans to utilize strong free cash flow for dividends and debt reduction.
André Krause
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