Swisscom said it is in mourning following the death of its CEO Carsten Schloter, whose body was found on Tuesday morning at his place of residence in the Freiburg area in an apparent suicide.
Swisscom put a memorial message for Schloter on its website.
The police have said they are assuming th death was a suicide, and an investigation into the exact circumstances is underway. Out of consideration for the family no further details have been disclosed, Swisscom added.
"The Board of Directors, Group Executive Board and the entire workforce are deeply saddened and pass on their condolences to the family and relatives," said Chairman Hansueli Loosli, chairman of the board of directors.
Deputy CEO Urs Schäppi, head of Swisscom Switzerland, will take over management of the company for the time being.
Schloter, a German citizen who was 49 when he died, joined Swisscom in 2000 as head of Swisscom Mobile and was appointed CEO of Swisscom in 2006. Reuters reported that the CEO had been widely regarded as a strong telecoms manager who had kept his company in better shape than many of its peers.
In recent interviews Schloter had discussed the pressures of such a high-profile role, and said he found it increasingly difficult to unwind, describing himself as a "victim of modern communication," according to Reuters.
"Swisscom has lost an excellent CEO, and Swiss business a defining personality," said Doris Leuthard, Switzerland's cabinet minister for the environment, transportation, energy and communications, in a statement.
Swisscom, TDC face tight competition, pricing pressures
Swisscom fights SMS decline with triple-play offerings
Swisscom unveils LTE trial networks for ski resorts
Report: France Telecom arranges financing for Orange Switzerland sale
Swisscom begins testing FTTx architectures