Swiss Post CEO resigns

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The head of Swiss Post, Susanne Ruoff, has stepped down with immediate effect over a subsidies scandal at the company’s subsidiary, PostBus.

In a statement issued on Sunday, Ruoff said she took responsibility for the activities involving the irregularities in connection with federal and cantonal subsidies.

However, she said she had been unaware of the irregularities which had already occurred before her time as the head of the Swiss Post and had relied on internal and external controls.

As the CEO of Switzerland’s third-largest company, however, she “naturally assumed overall responsibility” Ruoff said.

In addition to the post’s ongoing internal investigation into the matter, administrative criminal proceedings have been opened in connection with subsidiary company’s financial irregularities.

Ruoff and Swiss Post have been under intense scrutiny since a Transport Office audit last year discovered that PostBus – known for its alpine network of yellow commuter buses – had manipulated accounts between 2007 and 2015 to pocket millions in federal and cantonal subsidies.