Alcon confirms commitment to Switzerland ahead of proposed spinoff from Novartis
Alcon has announced plans to locate its future global headquarters in the Canton of Geneva, Switzerland, following completion of its proposed spinoff from Novartis.
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. The new premises will be in a modern office complex offering world-class services and amenities, including close proximity to the Geneva international airport.
"We are delighted to announce Geneva as the location of Alcon's new global headquarters following the proposed spinoff from Novartis," said David Endicott, Chief Executive Officer, Alcon. "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 new listed holding company for the Alcon group after the proposed spinoff will be incorporated in the Canton of Fribourg, where Alcon already has significant operations, which will complement other key sites in Rotkreuz and Schaffhausen. While final details are being finalised, Alcon could employ up to 700 in Switzerland post-spin-off. Alcon's current global divisional headquarters in Fort Worth, Texas, will remain a major operational, commercial, and innovation hub for the proposed standalone company.
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. The planned spinoff would enable Novartis and Alcon to focus fully on their respective growth strategies. 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.