Management change and adjustment of the V-ZUG Group management structure
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EQS Group-Ad-hoc: V-ZUG Holding AG / Key word(s): Personnel Zug, 18 January 2021 - Max Herger, Senior Vice President Operations / Chief Operations Officer, will leave the V-ZUG Group in summer 2021 when he enters retirement. Adrian Theiler has been appointed as his successor and as a new member of the management team. Manuel Faeh, Senior Vice President Business Development, will leave the V-ZUG Group in the first half of 2021. The position of Senior Vice President Business Development will be realigned as a result of evolving requirements. In its place, the V-ZUG Group will create the position of Chief Marketing Officer with a strong emphasis on digitalization. During the course of summer 2021, Max Herger, a current member of V-ZUG's executive committee, will take early retirement at his own request after many years of service at the V-ZUG Group. Since joining the company in 2001, Max Herger has taken on various roles, including CEO of V-ZUG Cooling Technology Ltd in Arbon from 2013 to 2019 as well as a previous four-year stint as Head of Operations and member of management of V-ZUG Ltd. The Board of Directors and the CEO of the V-ZUG Group would like to thank Mr Herger for his many years of commitment and wish him a very happy retirement. As his successor, the Board of Directors of the V-ZUG Group has appointed Adrian Theiler, who will assume the position of Chief Operations Officer and member of V-ZUG's executive committee no later than 1 August 2021. Adrian Theiler studied Industrial Management and Manufacturing at ETH Zurich before completing the Executive MBA programme at the University of Zurich. Mr Theiler currently holds the position of Vice President Supply Chain Management EMEA at Landis+Gyr. He began working for this company back in 2003, occupying various roles in the areas of Supply Chain and Logistics as well as in the management of Business Lines with P&L responsibility. The ongoing transformation process at the V-ZUG Group, which requires increasing digitalization as well as development of platform technologies and marketing via these platforms, calls for an adjustment of the management structure associated with the upcoming departure of Manuel Faeh, incumbent Senior Vice President Business Development, in the first half of 2021. His position will not be replaced in its present form. Instead, the current organization will be adjusted in line with the evolving requirements. Consequently, the management will be reinforced through the addition of a Chief Marketing Officer. This new position will be responsible for the areas of product management, strategic distribution channel management and pricing as well as marketing communications. It will also include a significant part of digitalization. Recruitment for this position is already underway. The Board of Directors and the CEO of the V-ZUG Group would like to thank Mr Faeh for his high level of commitment and his active contribution towards the ongoing transformation process. About the V-ZUG Group V-ZUG is Switzerland's leading brand in household appliances. Located in the heart of Switzerland, V-ZUG has been developing and producing kitchen and laundry appliances for over 100 years and offers a comprehensive service as well. As market leader in Switzerland, the V-ZUG Group also markets its products in selected premium markets abroad. The V-ZUG Group currently employs around 2,000 people. The holding company V-ZUG Holding AG is listed in the Swiss Reporting Standard of SIX Swiss Exchange in Zurich (securities number 54 248 374, ISIN CH0542483745, ticker symbol VZUG). The financial report is broken down into two segments: Household Appliances and Real Estate. Key dates
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Legal notes The expectations expressed in this press release are based on assumptions. Actual results may vary from those anticipated. This press release is published in German and English. The German version is binding. V-ZUG Holding AG processes personal data in accordance with its privacy statement available at https://www.vzug.com/ch/en/privacystatement. End of ad hoc announcement |
1161157 18-Jan-2021 CET/CEST
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