Olaf Swantee resigned as CEO of Swiss operator Sunrise Communications Group AG, according to a Jan. 3 news release.

Sunrise Communications CFO André Krause will replace Swantee as the company's CEO, effective immediately.

Swantee will support Krause until the annual general meeting in April 2020 to ensure a smooth leadership transition.

In addition, Chairman Peter Kurer and Vice Chairman Peter Schöpfer will not stand for reelection in the upcoming annual general meeting.