CEO Franz-Xaver Simmen leaves Andermatt Swiss Alps

Civil engineer Franz-Xaver Simmen was CEO of Andermatt Swiss Alps (ASA) for three and a half years. During this time, among other things, the Andermatt-Sedrun ski area link was completed and the Radisson Blu Reussen hotel, the Gotthard Residences and nine apartment buildings were opened.

"Now that the main development goals have been achieved, the time has come for a change in leadership," Simmen says of his move, which comes at his own request.

Investor Samih Sawiris holds 51 percent of ASA, while Orascom Development Holding ODH holds the remaining 49 percent. (ah)