Daniel Lutz, who has led the Swiss food and beverage company Orior for almost ten years, is set to step down from his position as CEO.
In a statement, the Zurich-based group announced that the board of directors and Lutz have mutually agreed that the company’s leadership “should be placed in new hands.”
Lutz, who previously held an executive role at Nestlé, was appointed as Orior’s CEO in October 2014. Under his guidance, the company navigated various challenges, including the impact of the Covid-19 pandemic on the food and beverage industry.
In August, Orior revised its sales and margin forecasts downward, which Lutz attributed to a “challenging environment.” In the first half of the year, the company reported an almost 24% decline in EBIT to SFr12.8 million ($14.6 million), with the EBIT margin dipping by 130 basis points to 4.1%. Additionally, net profit fell by 27% to SFr9.4 million.
As of November 7, Orior has initiated the process to find a new CEO. The board expressed its appreciation for Lutz’s tenure, particularly highlighting his role in the internationalization of Orior and his adept handling of extraordinary circumstances during the pandemic.
Until a new CEO is appointed, Filip De Spiegeleire, who has been part of Orior’s group executive board since 2016, will take over the leadership role. Orior also announced that Sacha D. Gerber, the former finance chief at Emmi, will step into the CFO role earlier than scheduled, beginning on November 11. Current CFO Andreas Lindner will remain with the company to support the financial team until the end of January.
Due to these leadership transitions, Orior has postponed its investor day originally planned for early December.
In the financial year 2023, Orior reported net sales of SFr643.1 million, marking a modest growth of 1% compared to SFr636.7 million in 2022. However, EBIT saw a decrease of 15.3%, falling to SFr32.1 million from SFr37.9 million in the previous year. Furthermore, net profit attributable to parent company owners decreased by 17.8%, dropping to SFr24.8 million from SFr30.2 million in 2022.
In the context of evolving food and drink consumer trends, Orior’s strategic shifts and leadership changes could significantly impact its position in the competitive food and beverage industry.
