February 1, 2018, New York — Ludwig Cancer Research announces the appointment of Thomas Baenninger as its new Chief Financial Officer. He succeeds the current CFO, Richard Walker, who is stepping down after 36 years of service to the Ludwig Institute for Cancer Research. Walker will continue to serve as Secretary to the Board of Directors of the Institute.
Baenninger, who has two decades of experience managing the financial operations of major corporations, joins Ludwig from the publicly traded Swiss industrial engineering and manufacturing firm Sulzer Ltd. As post-merger integration manager at Sulzer, Baenninger led the integration of GEKA into Sulzer’s business after its acquisition in 2016. Prior to that, he served for a dozen years as CFO of the global Chemtech division of Sulzer, leading a team of 20 professionals responsible for the division’s financial administration and reporting. Before joining Sulzer, Baenninger served for several years as the CFO and Chief Information Officer of Bucher Automotive, a division of the Swiss equipment and machine manufacturer Bucher Industries. A native of Switzerland, Baenninger obtained his degree in business administration from the University of Applied Science in Zurich.
“We look forward to working closely with Thomas and expect his long experience managing the finances of global organizations through seesawing economic cycles will be an asset to Ludwig’s operations and the fulfillment of its mission,” said Edward McDermott, Ludwig’s president and CEO.