• 01.11.2017
  • Space, Air, Land, Group
  • Media release

Hans-Peter Schwald will not stand for re-election to the RUAG Board of Directors

Hans-Peter Schwald has decided not to stand for re-election at the upcoming Annual General Meeting. He informed the RUAG Board of Directors and Federal Councillor Guy Parmelin of his decision this week. Hans-Peter Schwald has been a member of the Board of Directors since 2002 and Chairman since 2014. A new chair will be elected at the upcoming Annual General Meeting....

Hans-Peter Schwald has been a member of the RUAG Board of Directors since 2002 and Chairman since 2014. He is also a member of the Audit Committee, Nomination & Compensation Committee and Strategy Committee. At the upcoming Annual General Meeting, Hans-Peter Schwald will not stand for re-election. The election of the new chair of the RUAG Board of Directors will take place at the Annual General Meeting on 26 April 2018 in Stans.

Hans-Peter Schwald joined the RUAG Board of Directors 16 years ago and has been Chairman for the past four years. He has had a formative influence on the transformation of the former arms manufacturer into an international technology group. In 1999, shortly after RUAG was founded, the Swiss government accounted for 90% of RUAG’s turnover and operated exclusively in locations across Switzerland. Today, it has doubled its headcount and sales, is free from debt and is profitable. Around half of its more than 9,000 employees work outside Switzerland. RUAG products are manufactured on four continents, with 58% of these products for the civilian market, and it is now one of the most important MEM companies in Switzerland. RUAG is not only Switzerland’s leading defence technology specialist by far, but also the biggest space company and one of the major providers of cyber security services in the country.

Hans-Peter Schwald, RUAG Chairman of the Board of Directors: “Thanks to RUAG, Switzerland is like almost no other country in the world in that it has a leading, internationally renowned technology company making an important contribution to our country’s security. Over the last 18 years, RUAG has performed extremely well in a highly competitive international market environment. RUAG has lived up to its promises and can point to many great achievements. Its transformation and realignment have been a success. Now it faces a new phase in its development, which will take several years. It is the right time for a change of chair on the Board of Directors.”

Urs Breitmeier, CEO RUAG Group: “I am grateful to Hans-Peter Schwald for the tireless commitment he has shown to RUAG for so many years. He is one of the key figures responsible for RUAG’s success. I look forward to continuing to work with him for the next six months and thank him on behalf of the entire Group Executive Board for his dedication.”