Alcon, the global leader in eye care and a division of Novartis, has announced plans to locate its future global headquarters in the Canton of Geneva, following completion of its proposed spin-off from Novartis.

"We are delighted to announce Geneva as the location of Alcon's new global headquarters following the proposed spin-off from Novartis," said David Endicott, Chief Executive Officer of 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."

Alcon's new global headquarters in Geneva will be the primary location for Alcon's senior corporate leadership and other corporate and commercial functions.

A spin-off to employ up to 700 people in Switzerland

As part of the move, the company plans to employ up to 700 people in Switzerland. While the company’s management and key commercial functions will be in Geneva, the new publicly listed company’s official registration will be in Fribourg, creating additional tax revenue for the area. Additional Swiss sites are planned in the towns of Rotkreuz and Schaffhausen.

Earlier this year, Novartis announced its intention to spin-off Alcon into a separately-traded standalone company. The planned spin-off would enable Novartis and Alcon to focus fully on their respective growth strategies.