Rolf Dorig, president of insurers Swiss Life and employment agency Adecco, said Brussels is in urgent need of reform if it is to have a future.
He said less Europe, not more, is needed if the bloc wishes to survive the wave of populism crashing across the union and accused the European Union of ignoring people’s needs.
And he said the EU was “making a fool” of Switzerland by dictating the terms of agreements between the two.
Switzerland is not a member of the EU but is still a member of the Schengen Area. The country is also subject to a large portion of EU laws.
In total the country is subject to 10 bilateral treaties in order to participate in the EU’s single market. In 1992 Switzerland voted in a referendum 50.3% to 49.7% against joining as a full member state.
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He dismissed claims the EU would toughen its approach to Switzerland because it had to take a firm stance against non-members in order to punish Britain but admitted the bloc has taken advantage of Zurich.
The business leader said: “Let’s wait and see how Brexit is implemented. Then we have a clear starting position. That’s why I say: we are in no hurry.
“But the EU also has an interest in a strong economic Europe, including Switzerland. Otherwise Europe will be crushed by China and the US. Just negotiate on an equal footing. Switzerland has a lot to offer the EU.”
Mr Dorig hit out at the bloc in a fiery interview with Swiss newspaper Blick.
He said: “If we look at trade balances, Switzerland is not a small but a strong partner of the EU. We need good relationships with each other.
“And yet we let Brussels make a fool of ourselves.”
He said: “By now everyone has realised that Brussels is ignoring people’s needs with their policies. Without sensing how people in different countries think. See what happens in Hungary, Poland and Austria.”
Mr Dorig said this disconnect led to Brexit and reform was needed unless more countries were to quit the bloc.
He said: “Brexit is also a consequence of it. Reforms are urgently needed and there is consensus that the EU must give countries more autonomy if they want to survive.
“Ask a German or a Frenchman where he’s from: he always responds with France or Germany. No one says he is European.”
He said the EU in its current state “does not work” and urged the bloc to move towards economics rather than politics.
Mr Dorig said: “A politically centrally governed union does not work. But if the EU moves in the direction of economic union, then this is also a model for Switzerland.”
(Additional reporting by Monika Pallenberg.)