SIG Combibloc Group AG / Key word(s): Personnel
9 November 2020
SIG Announces Management Changes
SIG today announced that, after 12 years as Chief Executive Officer, Rolf Stangl has decided to leave the company to pursue personal interests. Samuel Sigrist, currently Chief Financial Officer, will take over as Chief Executive Officer with effect from 1 January 2021.
Samuel Sigrist, a Swiss citizen, joined SIG in 2005 and has been Chief Financial Officer and Chairman of the Middle East Joint Venture since 2017. He also recently assumed responsibility for commercial operations globally. From 2013 to 2017, he was President & General Manager of Europe, SIG's largest region. Samuel Sigrist holds a degree in Business Administration from the Zurich University of Applied Sciences, a Master of Business Administration degree from the University of Toronto and a Global Executive Master of Business Administration from the University of St. Gallen.
Samuel Sigrist's successor as Chief Financial Officer will be Frank Herzog, who will become a member of the Group Executive Board as of 1 January 2021. He joins SIG from VFS Global, based in Zurich and Dubai, where he is Chief Financial Officer. He has held finance leadership positions at Dematic Group in the USA and KION Group in Germany. He also has extensive experience in investment banking. Frank Herzog is a German citizen. He holds a business degree from WHU Koblenz and a Master of Business Administration degree from the University of Texas.
Andreas Umbach, Chairman of the Board of Directors, said: "The change of leadership announced today is the outcome of close attention to succession planning. Samuel Sigrist is ideally qualified to assume the position of Chief Executive Officer. Having worked at the company for many years in a wide variety of roles, Samuel has consistently demonstrated the breadth of his leadership skills and his ability to drive results. He has worked very closely with Rolf Stangl and this will ensure a smooth and rapid transition. I am pleased that in Frank Herzog we have found a strong successor to Samuel with extensive international experience.
I would like to thank Rolf for his many years' service and outstanding contribution to the success of SIG. As CEO, he has driven expansion into growth markets and has enabled the company to consistently grow share globally. Rolf recognised early on the imperative need for sustainability and the initiatives he pioneered have made the company into a sustainability leader. Most recently, he led the company through the successful IPO in 2018 and has steered it safely through the challenges of the COVID-19 crisis. We are sorry to see Rolf leave and wish him all the best for the future."
Jennifer Gough +41 52 543 1229
Founded 1853, SIG is headquartered in Neuhausen, Switzerland. The skills and experience of our approximately 5,500 employees worldwide enable us to respond quickly and effectively to the needs of our customers in over 60 countries. In 2019, SIG produced 38 billion carton packs and generated €1.8 billion in revenue. SIG has an AA ESG rating by MSCI, an 18.8 (low risk) score by Sustainalytics and a Platinum CSR rating by EcoVadis. For more information, visit www.sig.biz.
End of ad hoc announcement
SIG Combibloc Group AG
8212 Neuhausen am Rheinfall
+41 52 674 61 11
+41 52 674 65 56
SIX Swiss Exchange
EQS News ID:
End of Announcement
EQS Group News Service