Breaking News – Oerlikon Group CEO leaves unexpectedly
Practically out of the blue, Oerlikon CEO, Dr. Michael Buscher, takes his hat and leaves the company immediately, his interim successor has already been named
Only a short time ago, after being since 2010 at the helm of Oerlikon Group, Buscher presented figures that confirmed that the group’s restructuration has been successful,and the firm back on track, instead of divesting the company is on a course to acquisitions in the near future.
Obviously, the leave comes unexpectedly and not peaceful because the press release is dry and does not reveal the reasons. It is therefore sheer speculation that the reasons might be personal or because of differing opinions in regard to the future course of Oerlikon Group.
The press release confirms that Michael Bucher has played a key role in the success of the company and that the Board of Directors thanks Michael Buscher for his significant and lasting contributions. That is all.
The Board has appointed CFO Jürg Fedier (since 2009 with Oerlikon) interim Group CEO with immediate effect. He has been instrumental in the Group’s restructuring and 2012 refinancing, has been an Executive Committee member and Oerlikon CFO since 2009. Oerlikon Chairman Tim Summers stated: “The Board of Directors wishes Michael Buscher all the best for the future and has complete confidence in Jürg Fedier to manage the Group’s business during this period of transition”. Exactly this customary statement reveals that something decisive has been happening and that Buscher departure was surprisingly, because the Group has now to look for another CEO as quick as possible, because the extended interim functions of Jürg Fedier are only temporary and Oerlikon’s Board had to show immediate action. However it is very unusual not to give the true reasons, therefore speculation has its way!