Record wages
Flemming Ornskov, Danish of Zug, is the best paid CEO in Switzerland
The GALDERMA pharmaceutical company did not go on the stock market until last year. Its boss, Flemming Ornskov, is the best paid CEO in Switzerland with nearly 19 million francs.
Created in 1981, first as a joint venture between Nestlé and L’Oréal, Galderma has been owned by a consortium of private institutional investors since 2019.
ALEXANDRA WEY/KEYSTONE
The list of best -paid business leaders in Switzerland is full of known names: Sergio Ermotti (UBS), Vasant narasimhan (Novartis) or Nick Hayek (Swatch).
They were all ousted in 2024 by Flemming Ornskov. According to the classification of the Ethos Foundation, this 67 -year -old Danish received a remuneration of 18.998 million francs, including around 14 million in the form of actions of the company.
Flemming Ornskov has headed the Galderma pharmaceutical company since 2019.
WALTER BIERI/KEYSTONE
Since 2019, Flemming Ornskov has run Galderma, a pharmaceutical company specializing in dermatology based in Zug. Founded in 1981 as a joint venture between Nestlé and L’Oréal, Galderma only entered the stock market in Switzerland in 2023. In 2024, it recorded a turnover of $ 4.4 billion, up more than 9% compared to the previous year. Before joining Galderma, the businessman notably exercised his skills within the pharmaceutical groups Shire, Bayer the Novartis.
Only three CEOs are ahead of Europe
The IPO of his business was beneficial to him. In the classification of ethos, Flemming Ornskov is ahead of David Layton (Partners Group, 16.885 million francs), Sergio Ermotti (14.927 million francs) and Vasant Narasimhan (14,189 million francs).
In total, seven business managers listed on the stock market last year remuneration greater than 10 million francs. On average, the general directors of the 20 companies listed in SMI received a sum of 8.3 million francs. According to Ethos, this represents an increase of about 7% compared to the previous year and some 27% over the last four years.
On a European scale, Flemming Ornskov has risen to the fourth place in the best paid CEOs. Fabricio Bloisi, boss of the Prosus participation company based in Amsterdam, is far behind. Last year, he was paid up to 50 million Swiss francs.
Translated from German by Emmanuelle Stevan
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