Jungfraubahn Holding AG:

29 August 2024

Ad hoc announcement pursuant to Art. 53 LR

Oliver Hammel becomes new CEO of Jungfrau Railways

In an ad hoc announcement pursuant to Art. 53 of the Listing Rules Jungfrau Holding AG can disclose that the Boards of Directors of Jungfraubahn Holding AG and Berner Oberland-Bahnen AG have unanimously elected Oliver Hammel as the new CEO of Jungfrau Railways. The 41-year-old will take over the operational business from the current Jungfrau Railways CEO, Urs Kessler, who will retire in June 2025.

"I am delighted that we have been able to recruit Oliver Hammel, a young, dynamic and internationally experienced personality, for this assignment. This decision will see a pragmatic, creative figure with the courage to drive things forward leading Switzerland's most important mountain railway company into the future," explains Heinz Karrer, Chairman of the Board of Directors of Jungfraubahn Holding AG. On behalf of Berner Oberland-Bahnen AG, Chairman of the Board of Directors David Beeler emphasises that "Oliver Hammel impressed us during the selection process with his economic thinking and entrepreneurial approach. He is internationally oriented and approachable, and he has an open attitude towards people and change."

Working worldwide – returning home

The Swiss citizen currently lives with his family in Thailand and has been working for the global company DKSH since 2015. The company is a leader in market expansion services with a focus on Asia Pacific, is headquartered in Zurich and has been listed on the SIX Swiss Exchange since 2012. Oliver Hammel has been Director of the Technology Division for the markets of Thailand, Laos, Cambodia and Myanmar (Burma) for several years. From 2015 to 2022, he was Managing Director of DKSH's Technology division for the China market, based in Shanghai. Prior to that, he worked for EROWA AG as Head of Marketing, Sales and Service for North East Asia from 2010 to 2015, also based in Shanghai, China.  

For Oliver Hammel, Jungfrau Railways embodies "tradition and innovation, values that are both very important to me". The Group "operates in a dynamic and challenging environment and must therefore continue to develop on an ongoing basis", all while reconciling the different needs of stakeholders, from employees and residents to the authorities and shareholders.

"I will also bring an outside perspective to this well-established company," says Oliver Hammel. "I am delighted to have the opportunity to work in my home country again, in a company steeped in history with a world-famous brand, and to build on a solid long-term strategy," says Oliver Hammel. With his international experience as a managing director and in marketing and sales, he emphasises that he can also rely on an experienced Executive Board and motivated employees.

Oliver Hammel is aware that he has big shoes to fill: "I have great respect for this role. I also know that Jungfrau Railways has a history with enormous appeal, which likewise radiates from its numerous, highly experienced and seasoned employees," explains Oliver Hammel.

Someone from the outside

While the last two CEOs of Jungfrau Railways came from the region and had been with the company for some time, the two Board of Directors decided in favour of someone from outside this time. "Oliver Hammel impressed us with his personality and brings international experience to the role. He can also count on an experienced Executive Board," explains Heinz Karrer. 

"Thanks to his previous work, Oliver Hammel is familiar with dealing with different stakeholder groups and cultures," says David Beeler. This, Beeler said, would also benefit him here in discussions and negotiations with various stakeholders.

Handover in the course of June 2025

Jungfraubahn Holding AG announced on 31 August 2023 that its long-standing CEO, Urs Kessler, will retire in June 2025. After an induction period, Oliver Hammel will take over the operational business from Urs Kessler in the course of June 2025. By then, he will have completed his work with his current employer in Thailand and moved to the Jungfrau Region.

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Oliver Hammel is 41 years old and was born in Liestal (BL). After an apprenticeship as a design engineer at Scholl in Safenwil, he initially worked as a project manager and apprentice supervisor. He later completed various further training courses in leadership and marketing/sales.

Currently he lives in Asia together with his Chinese wife and their nine-year-old daughter. Oliver Hammel and his family will move to the Jungfrau Region, that he knows well from several holidays. Oliver Hammel spends most of his free time with his family, occasionally enjoying hiking, sailing or kite surfing in summer and skiing in Switzerland in winter.

• Link to ad hoc announcements: https://www.jungfrau.ch/en-gb/corporate/investor-relations/jungfraubahn-holding-ag/ad-hoc-announcement-pursuant-to-article-53-lr/