09.12.18

Alcon to Move Headquarters from Texas to Switzerland Following Proposed Spinoff From Novartis

Source: Alcon

Alcon announced plans to locate its future global headquarters in Geneva, Switzerland, following completion of its proposed spinoff from Novartis, which is expected to be completed in the first half of 2019.

Alcon’s new global headquarters in Geneva will be the primary location for Alcon’s senior corporate leadership and other corporate and commercial functions. It will be co-located with Alcon’s Europe, Middle East, and Africa (EMEA) regional office, which is already based in the city.

“We are delighted to announce Geneva as the location of Alcon’s new global headquarters following the proposed spinoff from Novartis,” David Endicott, Chief Executive Officer, Alcon, said in a company news release. “For more than 40 years, Alcon has had a significant presence in Switzerland, which is known for its progressive business climate and innovation-friendly policies. Being headquartered in Geneva will help further increase Alcon’s global scale and reach to better serve our customers.”

The current global divisional headquarters in Fort Worth, Texas, where it started more than 70 years ago, will remain “a major operational, commercial, and innovation hub for the proposed standalone company,” according to Alcon.

The new listed holding company for the Alcon group after the proposed spinoff will be incorporated in Fribourg, Switzerland, where Alcon already has operations, which will complement other key sites in Rotkreuz and Schaffhausen. While final details are being finalized, Alcon said it could employ up to 700 employees in Switzerland.

Alcon corporate and EMEA employees will begin moving to the new Geneva location in 2019.

Earlier this year, Novartis announced its intention to spinoff Alcon into a separately-traded standalone company. As part of that announcement, Novartis disclosed that Alcon would be incorporated in Switzerland with listings planned on the SIX Swiss Exchange and the New York Stock Exchange.  

During a media day event on Tuesday, Mr. Endicott said the spinoff will allow Alcon to return to a “focused eye care company” that many in the ophthalmic and optometric community “understood and appreciated.”

He said the company will return to its roots on education and training.

“I think one of the things you’ll really see from us going forward is a return to creation of data, putting that data on podium, and getting the science ideas advanced as fast as we can,” Mr. Endicott said.

 

 

 

 

 

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