Swiss dairy giant Emmi has announced the departure of its finance chief, Sacha Gerber, less than 18 months after assuming the role. Gerber decided to leave the Lucerne-based company for “personal reasons” and has been released with immediate effect “due to the sensitive nature of the role.”
Gerber took on the CFO position on 1 January 2023, succeeding former CFO Ricarda Demarmels, who was promoted to CEO of the publicly-listed group. Oliver Wasem, who has been serving as deputy CFO of the Le Petit Chevrier cheese and Benecol dairy drinks maker since 2013, will replace Gerber.
Wasem, who also holds positions as the president of the company’s pension fund and head of investor relations, brings ten years of finance leadership experience at Emmi. CEO Demarmels expressed confidence in Wasem, stating that his commitment to the company and extensive experience make him the ideal candidate for the CFO role.
Emmi expressed regret over Gerber’s departure, acknowledging his dedicated service and valuable contributions to the company’s success. Since Gerber’s appointment, Emmi has divested a business in Germany and acquired a majority stake in a Brazil-based yogurts and shakes business owned by The Coca-Cola Co.
The company recently announced the acquisition of Switzerland-based coffee roaster Hochstrasser. Emmi operates across four business segments – Switzerland, the Americas, Europe, and global. The Americas segment includes markets in the US, Canada, Brazil, Spain, Chile, Tunisia, and Mexico, while the global segment covers markets in Asia, Eastern Europe, South America, and the Arabian peninsula.
Emmi’s next financial results are scheduled for publication on 14 August, covering the first half of 2024. In the previous year, the company reported sales of SFr4.24bn ($4.74bn), a 3.5% increase on an organic basis. EBITDA slightly decreased, while EBIT and net profit showed positive growth.
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