The federal government intervenes A fierce power struggle rages over the Bucherer billions
Following an internal dispute, the foundation supervisory authority is having the management of the Bucherer Foundation investigated. It's about transparency, influence and a lot of money.
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- The Jörg G. Bucherer Foundation is under state supervision following internal conflicts.
- A dispute between Foundation Board Chairman Urs Mühlebach and Jessica De Ry revolves around a lack of transparency and possible conflicts of interest.
- The foundation supervisory authority ESA has appointed two trustees due to possible structural and personnel problems.
The Jörg G. Bucherer Foundation, based in Meggen LU, is one of the most important foundations in Switzerland - it is worth around CHF 5 billion. It was established in the interests of watch pioneer Jörg Bucherer, who died childless in 2023.
The foundation is now under state supervision, as reported by the CH Media newspapers, due to a dispute on the foundation board: Jessica De Ry, Bucherer's cousin, is said to be at odds with the chairman of the foundation board, Urs Mühlebach.
She accuses him of ignoring important decisions and failing to inform her of key events. In addition, Mühlebach is said to be in a conflict of interest as executor, lawyer and Chairman of the Board of Trustees.
Hourly wage of 1,200 francs
Mühlebach's remuneration is also said to have met with internal resistance. Although he does not receive a salary for his role as Chairman of the Board of Trustees, he charges an hourly rate of CHF 1,200 per hour for his work as a lawyer and executor.
According to CH Media, De Ry has called in the Zurich law firm Homburger and the Swiss Federal Supervisory Authority for Foundations (ESA). The ESA has now reacted and called in two trustees to check "the proper and independent functioning of the foundation".
There are "indications of potentially serious structural and personal conflicts of interest on the Board of Trustees". Only an investigation report will show exactly what this means.
