Olaf Swantee, former CEO of Swiss telco Sunrise, has joined US financial investor Warburg Pincus as a “strategic advisor”.
Swantee confirmed the move to Swiss newspaper NZZ am Sonntag.
His contract with Sunrise runs until the end of July 2020, but it was agreed from the outset that he would support his successor André Krause primarily until the general meeting, Swantee said. “I accepted the position at Warburg Pincus in consultation with the Sunrise board of directors, of course.”
It is not a full-time position, though. “I’m supporting Warburg Pincus for three to four days per week in their telecom ventures in Europe – even though I am working a bit more at the moment,” Swantee said.
The newspaper speculates that Swiss cable operator UPC, which is still on the market after the failed takeover by Sunrise, could be acquired by a private equity funds, because neither Swisscom nor Salt, the two domestic rivals, would be suitable candidates.
If Warburg Pincus were interested in the Swiss Liberty Global subsidiary, the company could position Swantee as UPC’s future CEO, according to the report.