SIX Swiss Exchange, Switzerland’s principal stock exchange, will see a shakeup in its highest ranks, with the group’s CEO Urs Rüegsegger informing the Board of Directors that he will be relinquishing operational responsibility of the company at the end of the fiscal year.
The decision follows after a stint of nine years as the Group CEO of SIX, with Mr. Rüegsegger serving an integral role with the company since a merger back in 2008. In nine years with SIX, Mr. Rüegsegger managed to help drive the group’s success, also helping foster its development, whilst solidifying SIX’s role in the financial community.
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The move will see him pass on operational responsibility to an unknown successor, which SIX has already begun looking into. Announcing such a move with over half a calendar year to go was made to help ensure a smooth transition for a future successor, given the ramifications and gravity of Mr. Rüegsegger’s role.
The previous nine years are part of a seventeen-year career of operational responsibility for Mr. Rüegsegger who has opted to move into a new phase in his career. He has served for nearly two decades as an independent adviser, and will now be moving to other ventures.
According to Romeo Lacher, Chairman of the Board of Directors of SIX, in a statement on the change, “On behalf of the SIX Board of Directors I would like to thank Urs Rüegsegger for the great commitment he has shown. Under his leadership the triple merger was successfully realized and SIX developed into a completely reliable and profitable company. Over that time SIX has successfully faced up to foreign competition and posted growth nine years in a row. Urs Rüegsegger has made a major contribution to the success and strength of the Swiss financial center.”