Swisscom names Urs Schaeppi as new CEO

ZURICH Thu Nov 7, 2013 1:47am EST

ZURICH Nov 7 (Reuters) - Swisscom AG named Urs Schaeppi as its new chief executive on Thursday putting an end to the uncertainty caused by the loss of its former CEO who committed suicide in July.

Urs Schaeppi, the former head of Swisscom's Swiss business has been acting CEO since Carsten Schloter was found dead at his home on July 23.

He will be tasked with reviving sales and profits as Swisscom faces tough competition from social media such as free smartphone messaging service WhatsApp.

Net profit in the first nine months of the year fell 6.1 percent to 1.356 billion Swiss francs ($1.49 billion) on the back of 8.43 billion in sales. ($1 = 0.9111 Swiss francs) (Reporting by Caroline Copley)