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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

11/09/2020 | 01:00am EST

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

09-Nov-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

9 November 2020
SIG Combibloc Group ("SIG")

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."

 

Investor contact:

Jennifer Gough +41 52 543 1229
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: SIG Management Changes 201109

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: 1146354

 
End of Announcement EQS Group News Service

1146354  09-Nov-2020 CET/CEST

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© EQS 2020
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Sales 2020 1 837 M 2 226 M 2 226 M
Net income 2020 111 M 135 M 135 M
Net Debt 2020 1 269 M 1 538 M 1 538 M
P/E ratio 2020 57,5x
Yield 2020 1,98%
Capitalization 6 225 M 7 554 M 7 545 M
EV / Sales 2020 4,08x
EV / Sales 2021 3,75x
Nbr of Employees 5 500
Free-Float 93,8%
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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 19,45 €
Spread / Highest target 34,2%
Spread / Average Target 0,00%
Spread / Lowest Target -20,0%
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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