Packaging firm SIG has announced that its top boss, Rolf Stangl has decided to leave the company after 12 years in the position to pursue personal interests.
Stangl was responsible for driving the company’s expansion into growth markets and increasing its share globally.
Under his leadership, the company emerged as one of the leaders in sustainability through pioneering initiatives.
He also led the company through the successful IPO launch in 2018 and steered it safely through the COVID-19 crisis.
The company has named chief financial officer Samuel Sigrist as the new chief executive officer, effective 1 January 2021.
Sigrist joined SIG in 2005 and took up the role of chief financial officer and chairman of its Middle East Joint Venture in 2017.
Recently, he also assumed responsibility for commercial operations globally.
From 2013 to 2017, he served as president and general manager of the European division, also SIG’s largest region.
Chairman of the board of directors at SIG, Andreas Umbach, said, “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, Sigrist has consistently demonstrated the breadth of his leadership skills and his ability to drive results."
Elsewhere, Frank Herzog will step in as the chief financial officer and a member of the group executive board on 1 January 2021.
Herzog comes with extensive experience in investment banking, and most recently, served as the finance chief of VFS Global.
Previously, he held leadership positions in finance at Dematic Group in the USA and KION Group in Germany.