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8. Group Executive Board

8.1 Members of the Group Executive Board

The Group Executive Board is headed by the CEO and comprises six members, specifically the CEO, the CFO, the CTO, the President & General Manager Asia-Pacific, the President & General Manager Americas and the President & General Manager Europe.

The Company announced in press releases published on 31 August 2020 that by mutual agreement Markus Boehm would cease his role as Chief Market Officer and member of the Group Executive Board with effect from the end of 31 August 2020. In the same press release, the Company also announced that Martin Herrenbrück has decided to take up a position outside SIG and will leave the Company with effect from the end of 31 December 2020.1

Furthermore, the Company announced in press releases published on 9 November 2020 that Rolf Stangl has decided to leave the Company to pursue personal interests and would cease his role as CEO with effect from the end of 31 December 2020. Rolf Stangl was succeeded by Samuel Sigrist with effect from 1 January 2021 and became the new CEO on that date. Frank Herzog took over Samuel Sigrist’s position as CFO as of 1 January 2021 and also became a member of the Group Executive Board on that date. Frank Herzog joined SIG Group from VFS Global, based in Zurich and Dubai, where he was Chief Financial Officer.

As part of the transaction with OIG referred to in Section 2.1, the Company announced that Abdelghany Eladib, currently Chief Operating Officer of Al Obeikan SIG Combibloc Company Ltd., will join – subject to and as of completion of the acquisition with OIG – the Group Executive Board as President & General Manager, Middle East and Africa.

The Group Executive Board comprised the following members on 31 December 2020:

Name

 

Nationality

 

Position

Rolf Stangl

 

Swiss and German

 

CEO

Samuel Sigrist

 

Swiss

 

CFO

Ian Wood

 

British

 

CTO

Lawrence Fok

 

Singaporean

 

President & General Manager Asia Pacific

Ricardo Rodriguez

 

Brazilian and Spanish

 

President & General Manager Americas

Martin Herrenbrück1

 

German

 

President & General Manager Europe

1

In office until 31 December 2020. On 12 January 2021, the Company announced the appointment of José Matthijs-se as to succeed Martin Herrenbrück as President & General Manager Europe and member of the Group Executive Board with effect from 1 February 2021.

The biographies on the following pages provide information about the Group Executive Board members in office on 31 December 2020.

Rolf Stangl is a Swiss and German citizen and has served as a CEO from 2008 until 31 December 2020. As of 1 January 2021 he was succeeded as CEO by Samuel Sigrist. Mr Stangl joined the Company in 2004 and has held a number of positions across the organisation, including, among others, Head of Corporate Development and M&A, Chief Executive Officer of SIG Beverage (a division subsequently divested) and CMO. Rolf Stangl joined the board of directors of Pactiv Evergreen Inc. (NASDAQ: PTVE) in 2020. Prior to joining the Company, Mr Stangl served as an investment director for small and mid-cap buyouts at a family office in London and as a senior consultant with Roland Berger Strategy Consultants in Germany. Mr Stangl holds a bachelor’s degree in business administration from ESC Reims & ESB Reutlingen.

Samuel Sigrist is a Swiss citizen and has served as CFO and Chairman of the Middle East Joint Venture since 2017. With effect from 1 January 2021, he became the new CEO of the SIG Group. Mr Sigrist joined the Company in 2005 and has worked in various finance and corporate development roles, including director of group controlling & reporting, head of finance/CFO of Europe and head of group projects. From 2013 to 2017, Mr Sigrist was the Company’s President & General Manager Europe, and prior to joining the Company he worked as a consultant. Mr Sigrist holds a bachelor’s degree in business administration from the Zurich University of Applied Sciences, an MBA from the University of Toronto and a Global Executive MBA from the University of St. Gallen. Mr Sigrist is also a Swiss certified public accountant.

Ian Wood is a British citizen and joined SIG in 2018 as Chief Supply Chain Officer and became CTO in 2020. Previously, Mr Wood spent 15 years at Honeywell, initially in the supply chain function and later as vice president & general manager of various business units within the home & building technologies segment. Prior to joining Honeywell, Mr Wood worked at A.T. Kearney and Ford Motor Company. Mr Wood holds a master’s degree in manufacturing engineering from Cambridge University, UK and an MBA from Cranfield School of Management, UK.

Lawrence Fok is a Singaporean citizen and has served as President and General Manager of the Asia-Pacific region since he joined the Company in 2012. Prior to joining the Company, Mr Fok held senior management positions at Norgren China, Alcan Global Pharmaceutical Packaging, SCA Packaging China and Avnet Asia. Mr Fok holds a bachelor’s degree in mechanical engineering, an MSc in industrial & systems engineering from the National University of Singapore, and a Grad. Dip. in financial management from the Singapore Institute of Management.

Ricardo Rodriguez is a Brazilian and Spanish citizen and has served as President and General Manager of the Americas region since 2015. Mr Rodriguez joined the Company in 2003 and previously served as Director & General Manager, South America and Technical Service Director, South America. Prior to joining the Company, Mr Rodriguez worked at Tetra Pak in a number of roles, including general manager of the Belo Horizonte branch, key account manager and technical service manager. He holds a BSc degree in aeronautical/mechanical engineering from the Technological Institute of Aeronautics in Brazil, an MBA from the Getúlio Vargas Foundation, and graduated from a specialist business management course at IMD, Lausanne.

Martin Herrenbrück is a German citizen and has served as President & General Manager Europe from 2017 until 31 December 2020, when he left the Company. He previously held the position of Head of Cluster Europe. Since joining SIG in 2006, Mr Herrenbrück served in a variety of positions including Head of Cluster Asia-Pacific South, Head of Global Marketing and various corporate development roles. Prior to joining SIG, he worked at Roland Berger Strategy Consultants in Germany for several years. Mr Herrenbrück holds an MSc in management from HHL Leipzig Graduate School of Management and an MBA from the KDI School of Public Policy and Management in Seoul, South Korea.

8.2 Number of permissible activities

In the interest of good governance, the Company’s Articles of Association limit the number of outside mandates that may be held by members of the Group Executive Board as follows:

  1. up to one mandate in listed firms2;
  2. up to five mandates in non-listed firms; and
  3. up to five mandates in foundations, associations, charitable organisations and other legal entities.

Such a mandate is deemed to be any activity in the superior governing or administrative bodies of legal entities that are obliged to be registered in the commercial register or any comparable foreign register, other than the Company and any entity controlled by or controlling the Company. The Board of Directors shall ensure that such activities do not conflict with the exercising of their duties for the Group. Functions in various legal entities that are under joint control, or in entities in which this legal entity has a material interest, are counted as one function.

8.3 Management agreements

The Company has not entered into any management contracts with persons outside the Group for the delegation of executive management tasks.

1 On 12 January 2021, the Company informed that it has announced José Matthijsse as President & General Manager Europe with effect from 1 February 2021. Ms Matthijsse succeeds Martin Herrenbrück and will also become a member of the Group Executive Board.

2 Pursuant to art. 727 para. 1 number 1 CO.