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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  SIG Combibloc Group AG    SIGN   CH0435377954

SIG COMBIBLOC GROUP AG

(SIGN)
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SIG Combibloc Group AG: SIG Announces Management Changes

08/31/2020 | 01:00am EST

EQS Group-Ad-hoc: SIG Combibloc Group AG / Key word(s): Personnel
SIG Combibloc Group AG: SIG Announces Management Changes

31-Aug-2020 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.


MEDIA RELEASE

31 August 2020
SIG Combibloc Group ("SIG")

SIG Announces Management Changes

SIG today announced that Markus Boehm, Chief Market Officer and member of the Group Executive Board, has decided to leave the company at his own request in view of upcoming organisational changes. Certain responsibilities of the Chief Market Officer will be devolved to the regional heads in Europe, Asia Pacific and the Americas, while the remainder will be redistributed to other members of the Group Executive Board. Ian Wood, currently Chief Supply Chain Officer, will become Chief Technology Officer and, in addition to his current responsibilities, will assume leadership of the global technology and R&D functions. Samuel Sigrist, Chief Financial Officer, will assume overall responsibility for commercial operations, including filler investments and solutions pricing, in addition to his current responsibilities. Consequently, the number of Group Executive Board members will be six instead of seven. These changes are effective from 1 September 2020.

In an unrelated development Martin Herrenbrück, President & General Manager Europe, has decided to take up a position outside SIG and will leave the Company at the end of 2020. His replacement will be announced in due course.

Rolf Stangl, CEO of SIG Combibloc, said: "I would like to thank both Markus and Martin for their contributions to the success of SIG over many years. Markus has driven major innovations such as combismile, now being rolled out globally, and has taken sustainable packaging to a new level with recent launches including SIGNATURE PACK. Under Martin's leadership we have gained share in Europe and have returned to a growth path in the region.

The organisational changes announced today take account of the global nature of SIG's business and the scale that our operations have attained in all regions. It makes sense for many commercial decisions to be made in the regions and close to our customers. Globally, Samuel's leadership will ensure that we continue to leverage our razor-razorblade business model and to optimise return on investment. Similarly, Ian will oversee the allocation of R&D resources and will ensure that we remain at the cutting edge of technology in the aseptic carton packaging industry."

Investor contact:

Jennifer Gough +41 52 674 6508
Director Investor Relations
SIG Combibloc Group AG
Neuhausen am Rheinfall, Switzerland
jennifer.gough@sig.biz

Media contact:

Lemongrass Communications
Andreas Hildenbrand +41 44 202 5238
andreas.hildenbrand@lemongrass.agency

About SIG
SIG is a leading systems and solutions provider for aseptic carton packaging. We work in partnership with our customers to bring food and beverage products to consumers around the world in a safe, sustainable and affordable way. Our unique technology and outstanding innovation capacity enable us to provide our customers with end-to-end solutions for differentiated products, smarter factories and connected packs, all to address the ever-changing needs of consumers. Sustainability is integral to our business and we are going Way Beyond Good to create a net positive food packaging system.

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.


Additional features:


File: Management changes 20200831

End of ad hoc announcement
Language: English
Company: SIG Combibloc Group AG
Laufengasse 18
8212 Neuhausen am Rheinfall
Switzerland
Phone: +41 52 674 61 11
Fax: +41 52 674 65 56
E-mail: info@sig.biz
Internet: www.sig.biz
ISIN: CH0435377954
Listed: SIX Swiss Exchange
EQS News ID: 1125021

 
End of Announcement EQS Group News Service

1125021  31-Aug-2020 CET/CEST

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© EQS 2020
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Net income 2020 111 M 135 M 135 M
Net Debt 2020 1 269 M 1 539 M 1 539 M
P/E ratio 2020 56,5x
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Nbr of Employees 5 500
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 19,45 €
Last Close Price 19,11 €
Spread / Highest target 36,5%
Spread / Average Target 1,76%
Spread / Lowest Target -18,5%
EPS Revisions
Managers and Directors
NameTitle
Rolf Stangl Chief Executive Officer
Andreas Vicente Umbach Chairman
Frank Wilhelm Herzog Chief Financial Officer
Mariel Hoch Director
Wah-Hui Chu Director
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