Sunrise Appoints CEO

Oliver Steil jumps ship from McKinsey to take over from Christoph Brand at Swiss telco

June 17, 2010

1 Min Read

ZURICH, Switzerland -- Oliver Steil has been appointed the new CEO of Sunrise, TDC's Swiss subsidiary, with effect from today. Oliver Steil is 38 years old and has studied electrotechnology at the University of Bochum. Sunrise's new CEO has extensive knowledge of the telecoms industry. Oliver Steil has during his previous career been CEO of debitel, a German mobile company, and he is joining Sunrise from a position as partner at McKinsey & Company with specific focus on the telecoms sector.

"I am very pleased that Oliver Steil has accepted the job as CEO of Sunrise. Oliver has in-depth knowl-edge of the telecoms industry and can strengthen the positive development Sunrise is experiencing," says President and CEO of TDC and Chairman of the Board of Directors of Sunrise, Henrik Poulsen.

Sunrise is the second-largest telco in Switzerland, with an annual revenue of DKK 9.9bn. The company is enjoying a positive development with increasing earnings and revenue, and came out of the first quarter of 2010 with 4.5% growth in revenue and EBITDA growth of 16.2% compared with the same period last year.

In April, the Swiss competition authorities rejected the planned merger of Sunrise and Orange. TDC therefore announced at the beginning of June that it no longer wished to pursue this option but would instead continue developing Sunrise as an independent company.

Sunrise Communications AG

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