Machinery industry SIG parts ways with CEO Sigrist with immediate effect - CFO takes over
The Board of Directors of packaging specialist SIG is pulling the ripcord. It wants a new CEO to lead the company through the next phase.
04.08.2025, 07:59
04.08.2025, 08:00
SDA
The current CEO Samuel Sigrist is leaving the company with immediate effect, with CFO Ann-Kristin Erkens taking over on an interim basis.
SIG announced on Monday that the Board of Directors and Sigrist had mutually agreed on his resignation. The Board of Directors was reconstituted at this year's Annual General Meeting in April. Among other things, Ola Rollén took over as Chairman. Since then, the Board has used the time to review the industrial group's strategy.
"We are convinced that there is potential to accelerate growth and improve performance," the press release states. "With new leadership, we want to push ahead with implementation." The Board of Directors has therefore initiated the process of recruiting a new CEO. It thanks Sigrist for his 20 years of service at SIG and his last 4.5 years as CEO.
The Capital Markets Day originally planned for October 2 is to be postponed. The new date will be announced in due course.
Share under pressure after half-year figures
Things have not been going well for SIG recently: Just under a week ago, the company lowered its forecast for the full year on the occasion of its half-year figures. Since then, its shares have lost considerable ground. Since the beginning of the year, the drop has already amounted to over a quarter.
The pace of growth was significantly reduced in the first half of the year. From January to June, turnover grew by 0.3 percent to 1.58 billion euros. In the first three months, SIG had still grown by a good 3 percent. The company is feeling the effects of subdued consumer sentiment worldwide.
SIG has formulated its outlook for 2025 as a whole more cautiously than before. It now expects growth in the lower half of the target range of 3 to 5 percent and an EBITDA margin also in the lower range of 24.5 to 25.5 percent. In the medium term, the margin is still expected to rise to over 27 percent.
