A total of 52% of CEOs from the 50 firms on the SMI ExpandedExternal link stock exchange are from abroad, according to a study published on Monday by the recruitment consultancy Heidrick & StrugglesExternal link. A year ago, when the profiles of Swiss executives were evaluated for the first time, the figure was 49%.
The study looked at the CEOs of listed companies in 13 countries. The percentage of foreign CEOs is also relatively high in Britain (43%) and in the Netherlands (40%). However, the locals dominate in France (88%), the US (90%) and in Portugal, where every single CEO was home-grown.
“The high proportion of foreign CEOs reflects the global activities of many [Swiss] companies as well as the uncomplicated labour market in Switzerland,” said Michael Oberwegner, managing partner at Heidrick & Struggles.
He gave the examples of Novartis, Zurich and Credit Suisse, headed respectively by American Vasant Narasimhan, Italian Mario Greco and Tidjane Thiam, a dual national of France and the Ivory Coast.
On-the-job training
What’s more, the CEOs of Swiss companies are relatively young and have a range of professional backgrounds.
“This shows that Switzerland is a country with a dynamic labour market, which presents an opportunity for skilled workers with highly diverse qualifications,” Oberwegner said.
As an example, he pointed to the Swiss CEO of UBS, Sergio Ermotti, who started his banking career with an apprenticeship in Lugano. “In other countries, teaching and on-the-job training are very unusual, but it was well worth it for the bank,” he said.
The study revealed that the average age of Swiss CEOs is 54, while the average age in all 13 countries is 56. A quarter of the Swiss CEOs are under 50.
As far as female CEOs are concerned, the situation has barely improved. Of the 50 companies surveyed, only Ems-Chemie has a female boss: Magdalena Martullo-Blocher. The share is thus 2%, while the average of all countries is around 5%. In Britain, Finland and Norway, 8% of CEOs are female.
More
More
Men appointed to boards because it’s ‘easier’
This content was published on
Few women sit on company boards in Switzerland. Parliament has put off deciding about quotas, but business has ideas about what should be done.
Basel diocese files five claims of sexual abuse in Swiss Catholic Church
This content was published on
The diocese of Basel has received 141 reports of sexual abuse since the publication of a sweeping study on violations in the Catholic Church by the University of Zurich in 2023.
Swiss president calls for open markets and stable institutions in WEF speech
This content was published on
Swiss President Karin Keller-Sutter was among speakers at the WEF in Davos to make the case for fair competition, a day after Donald Trump became the 47th president of the United States.
Swiss film in competition at the 75th Berlinale has a shot at Golden Bear
This content was published on
The feature film La Cache by Lausanne screenwriter and director Lionel Baier has a chance of winning the Silver or Golden Bear at the 75th Berlinale, festival organisers said on Tuesday.
Swiss politician who shot at image of Jesus resigns from Liberal Green Party
This content was published on
Sanija Ameti, who caused controversy after shooting at an image of Jesus and Mary last September, has resigned from the Liberal Green Party.
Swiss campaigners gather enough signatures to submit ‘responsible business’ initiative
This content was published on
The Swiss people are set to vote again on the corporate responsibility of multinationals after campaigners collected 183,661 signatures in 14 days for their new 'responsible business' initiative.
Several Swiss municipalities and banks hit by cyberattack
This content was published on
Russian hackers attacked the websites of several Swiss municipalities and banks on Tuesday, just as the World Economic Forum (WEF), got under way in Davos.
Music strengthens brain connections in premature babies, Swiss study shows
This content was published on
In premature babies, music strengthens connections in certain areas of the brain, according to a years-long study by the University Hospitals of Geneva (HUG).
WEF gives Crystal Award to Beckham, Yamamoto and von Fürstenberg
This content was published on
The World Economic Forum in Davos handed out awards to UNICEF ambassador David Beckham, Japanese architect Riken Yamamoto and women's rights activist Diane von Fürstenberg.
Swiss CEOs betting on a strong domestic market in 2025
This content was published on
Swiss business leaders are optimistic about 2025, despite a world in crisis, says a new survey by Pricewaterhouse Coopers.
This content was published on
Economics Minister Guy Parmelin and Foreign Minister Ignazio Cassis have welcomed Chinese Vice Premier Ding Xuexiang to Bern
This content was published on
The findings of the study, compiled by PricewaterhouseCoopers (PwC) and Strategy&, were largely in line with an earlier report by headhunter firm guidoschilling. This broader study revealed that 43% of new executive hires (not just CEOs) and 60% of new board members at a larger selection of firms last year were foreigners. The PwC/Strategy& report…
This content was published on
On January 1, 2016, Germany introduced a 30% boardroom quota for women at companies listed on the stock exchange. A welcome decision regarding gender and diversity - but what are the benefits?
This content was published on
A handful of leaders with multiple roles once controlled Switzerland’s most powerful entities. Today, researchers paint a very different picture of power in Switzerland.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.