Austrian packaging manufacturer Schur Flexibles Group has appointed Michael Schernthaner as its new CEO. The announcement comes a year after Thorsten Kühn was named chief executive of the firm.
Schernthaner, 41, has been Schur CFO for two years. He will take over the reins with a team including COO Juan Luís Martínez Arteaga and chief sales officer Friedrich Humer.
Michael Fischkin, formerly senior manager finance projects, will join Schur Flexibles top management as group finance director. Meanwhile, Thomas Unger, partner of Schur owner Lindsay Goldberg, will support management as chairman of the advisory board.
Unger said: “The management team has shown that the company can combine growth momentum, innovative capability, customer orientation and value orientation. We will be directing our best endeavours toward supporting Schur Flexibles in reaching the next stage of development through growth that not only is organic but also achieved through acquisitions.
“In view of the strong growth momentum, top management is to be supplemented by a group finance director and Michael Schernthaner, who was already responsible as CFO for M&A and strategy, can concentrate above all on taking the company’s strategic development further.”
Schur Flexibles offers high-barrier packaging solutions for the food, tobacco and pharmaceuticals industries. The firm generates around €520 million and has more than 1,700 employees in 23 production sites across Europe.
In March, the company expanded its operations in the Nordic region with the acquisition of Swedish packaging specialist Scandiflex Pac. Schur is aiming to develop Scandiflex Pac’s expertise in printed and transparent films as well as laminates.
And last year, the firm secured a deal for premium packaging manufacturers Cats-Hänsel and Nimax to strengthen its position in the sector of premium packaging for the confectionary and tea markets.
© FoodBev Media Ltd 2019