Important changes of management take place at Swiss Forbo (floor coverings, adhesives, power transmission, conveyor belt solutions and for global markets) because it is intended to have another consolidation of business activities. These changes are a direct result of the sale of the industrial adhesive business to H.B. Fuller and the probable divestment of the remaining building adhesive business.
The actual CFO Chief Financial Officer Jörg Riboni will be leaving the company at the end of January 2013 to pursue his career outside of Forbo.
Tom Kaiser Forbo’s COO (Chief Operating Officer since 2010 and with the company since 2004) has announced his departure during the first semester of 2012 to take a time out and to pursue personal projects.
The present head of Movement Systems Matthias P. Huenerwadel and member of the Executive Board will leave Forbo after seven years in the next months to come. His successor will be Michel Wins (44, Belgian, actually heading Offroad Seating Business Unit from German automotive components supplier Grammer) and become a member of Forbo’s Executive Board during the first half of 2012.
The successors of Tom Kaiser, probably he will not be replaced as COO and Jörg Riboni are not yet elected and all heads of Forbo’s divisions will report directly as of February 1, 2012 to This E. Schneider, Managing Director and CEO.
All in all, this means that three out of seven members of the Executive Board are leaving the company.