Swisscom Notes TDC's CEO

TDC appoints Jens Alder as its new CEO; Alder stood down as CEO of Swisscom in January

June 22, 2006

1 Min Read

BERN, Switzerland -- Danish telecommunications company TDC today announced the appointment of Jens Alder as its new CEO. Swisscom takes note of this appointment.

Jens Alder stood down as CEO of Swisscom AG on 20 January 2006 following the turbulence surrounding the company's strategy with regard to foreign acquisitions. He remained available to Swisscom to finalise outstanding projects until the General Meeting of Shareholders on 27 April 2006, at which point his contractual period of notice commenced. As announced in January 2006, the Board of Directors agreed to pay Jens Alder an annual salary including a target bonus commensurate with the duration of his contractual notice period, and to maintain his contractual relationship and non-competition agreement due to run until the end of October 2006.

Jens Alder's move to the Danish telecoms company on 1 November 2006 does not formally contravene the resignation agreement concluded with him.

Swisscom AG (NYSE: SCM)

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