Swisscom boss found dead

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Swisscom boss found dead

Swisscom boss found dead
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The chief executive of Swisscom has been found dead at his home in the city of Freiburg.

Police said it appeared Carsten Schloter, who was 49, had killed himself.

His death comes just days after Switzerland’s competition body said it was investigating the largest Swiss phone company.

That followed claims from a rival that the former monopoly had abused its market position in broadband internet for business clients.

Like other European telecoms companies, Swisscom has also been struggling with declining revenue and profit.

Schloter’s biggest decision after becoming CEO in 2006 was the acquisition, a year later, of Italian broadband network operator Fastweb to counter lacklustre growth in Switzerland, where Swisscom faced price pressure and increasing competition.

Swisscom later wrote down 1.3 billion euros ($1.72 billion), when Fastweb’s value slid during the eurozone debt crisis, and Schloter admitted overpaying for the deal.

He recently said in an interview that his biggest disappointment was the distance between him and his three young children, whom he saw far less frequently due to the breakdown of his marriage.

Schloter also described himself as a victim of modern communication, always on the go, and said it was all too easy to get lost in the stream of information.

“I find it increasingly difficult to unwind,” Schloter, told the Schweiz am Sonntag newspaper in an interview in May.

Swisscom’s majority owner, the Swiss government, expressed shock over Schloter’s death. “Swisscom has lost an excellent CEO, and Swiss business a defining personality,” said Doris Leuthard, the cabinet minister for the environment, transportation, energy and communications.