Emmi Management AG / Key word(s): Personnel
Ad hoc release pursuant to Art. 53 of the Listing Rules
Lucerne, 9 September 2021 - The Emmi Group is initiating succession arrangements at an early stage regarding a double leadership change for the Board of Directors and Group Management. After 15 years as a member of Emmi's Board of Directors - including 12 years as its Chairman - Konrad Graber will not be standing for re-election at the Emmi General Meeting in April 2023. The Board of Directors nominates Urs Riedener - who has successfully led the company as CEO since 2008 and will be stepping down from this position at the end of 2022 - as his successor
Konrad Graber, Chairman of the Board of Directors, will not stand for re-election at the General Meeting of Emmi AG held on 13 April 2023. The Board of Directors has nominated the current CEO and Chair of Emmi Group Management, Urs Riedener, to succeed him.
After 15 years as a member of Emmi's Board of Directors and 12 years as its Chairman, Konrad Graber will step down from his role as board member at the 2023 General Meeting. Konrad Graber has led the Board of Directors with great care and circumspection and has been instrumental in the further development of Emmi.
'Emmi has evolved into an internationally successful group with premium dairy products and strong brands. Due to the excellent positioning among all our stakeholders, I consider this an ideal time to initiate leadership succession arrangements for Emmi. We are pleased that current CEO Urs Riedener - whose initiative and committed leadership are intrinsic to Emmi's success and culture - wants to move to the strategic level and will thus be able to continue to shape the future of the Group,' says Konrad Graber, Chairman of the Board of Directors of the Emmi Group.
Successful and formative since 2008
Urs Riedener took over responsibility for operational management of the Emmi Group on 1 April 2008. Under his leadership, Emmi has achieved consistent and sustainable performance. With its balanced, specifically diversified country and brand portfolio, successful brand concepts such as Emmi Caffè Latte or Kaltbach, as well as strategic niche businesses such as speciality desserts, Emmi is not only the undisputed leading milk processor in Switzerland but also one of the leading international premium suppliers of dairy products. With subsidiaries in 14 countries outside Switzerland, it is well established and has repeatedly proven its resilience. Emmi recently underlined its ambition to ensure that future generations will be able to experience the best dairy moments as well and to create corresponding added value for all stakeholders with an expanded sustainability model geared towards a netZERO 2050 agenda.
In order to concentrate on the new position and respect a cooling-off period as the designated new Chairman of the Board of Directors, Urs Riedener will step down from his current position as CEO and Chair of Group Management on 31 December 2022. The election of a new CEO will be announced at the appropriate time, probably in spring 2022.
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Investors and Analysts
Emmi is a major Swiss milk processor. The company dates back to 1907, when it was founded by 62 dairy farming cooperatives around Lucerne. Over the past 20 years, Emmi has grown into an international, listed group (ticker symbol EMMN). It has pursued a successful, long-term strategy based on three pillars: strengthening its Swiss domestic market, international growth and cost management. Throughout its corporate history, Emmi's keen awareness of its responsibility to society, animal welfare and the environment has been fundamental to its mission.
In Switzerland, Emmi manufactures a comprehensive range of dairy products for its own brands and private label products for customers, including leading exports such as Emmi Caffè Latte and Kaltbach. In other countries, its products - mainly speciality products - are manufactured locally. Alongside cow's milk, it also processes goat's and sheep's milk.
In Switzerland, the Emmi Group has 25 production sites. Abroad, Emmi and its subsidiaries have a presence in 14 countries, 8 of which have production facilities. Emmi exports products from Switzerland to around 60 countries. Its business activities focus on the Swiss domestic market as well as western Europe and the American continent. Roughly half of its CHF 3.7 billion in sales - about 10 % of which stems from organic products - is generated in Switzerland, the other half abroad. Over two-thirds of its around 8,900 employees are now currently based outside of Switzerland.
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