Non-Executive Board Moves in Switzerland

Board Moves

Aebi Schmidt Holding

• The Aebi Schmidt Group has merged with The Shyft Group and is now publicly listed on the NASDAQ under the ticker AEBI. Effective July 1, 2025, James Sharman, formerly Chair of The Shyft Group, will assume the role of Chair of the Board of Directors of Aebi Schmidt Holding, bringing extensive U.S. market experience and leadership continuity to the newly listed entity. Peter Spuhler steps down as Chairman following the merger but remains a key stakeholder with over 35% ownership, ensuring ongoing strategic influence.

Adcubum

• Following the acquisition of Adcubum by Helsana, the software company has appointed a newly reconstituted Board of Directors, chaired by Nicolas Mosimann, taking over from the previous Chair, Jürg Hunziker.

• The board now includes Patrick Frank, CIO of Helsana, and Wolf Gerlach, a member of the Uniqa Insurance Group executive board, both bringing deep industry and technological expertise. Additionally, former CSS CFO Armin Suter will join in January 2026, contributing extensive financial leadership experience to further strengthen Adcubum’s governance. They succeed Robin John Crewe, Stefan Alexander Dandl, and Joseph Morgan Seigler, who stepped down in September 2025.

Ascom

• The Board has nominated Laurent Dubois, CEO of ADB Safegate and Board member since 2020, to succeed Dr. Valentin Chapero Rueda as Chairman at the 2026 AGM. Dubois brings over 30 years of leadership experience in consulting, technology, and healthcare. The Board will also be reduced from six to five members to streamline governance.

Axpo

• Axpo has nominated Roland Leuenberger, currently CEO of Repower, as Chairman of the Board of Directors, effective June 1, 2026, pending shareholder approval. With extensive leadership experience and a strong track record at Repower, where he has served as CEO since 2019 and Board Member since 2016, Leuenberger is set to guide Axpo’s strategic direction and governance in the coming years.

Banque Cantonale Neuchâteloise

• Dr. Elisabeth Bourqui has stepped down from her position as Independent Board Member, with Natacha Polli succeeding her, effective July 1, 2025.

Basellandschaftliche Kantonalbank

• Since September 1, 2025, Dr. Thomas Bauer has been serving as Interim Chairman of the Board of Directors of BLKB. Since the beginning of August 2025, Nadia Tarolli Schmidt, Independent Vice Chairman, has been leading the Board on an interim basis. The previous Chairman of the Board of Directors, Thomas Schneider, stepped down at the end of July 2025.

Bertschi

• Hans-Jörg Bertschi, Chairman and owner of the globally active logistics company Bertschi, has initiated a generational transition by gradually handing over strategic leadership to his three nephews, Markus, Beat, and Jörg Berner. Markus Berner, already elected Vice Chairman of the Board, is set to succeed Bertschi as Chairman after a transition period, while Beat Berner and Jörg Berner, both experienced company executives, will increasingly take on board responsibilities, bringing expertise in IT, HR, marketing, and strategic project management. As the Berner brothers also prepare to become majority owners, this succession ensures the continuity of family values, long-term stability, and leadership excellence for Bertschi as it continues its global growth.

Carlo Gavazzi Holding

• Effective August 2025, Board Members Federico Foglia and Dr. Stefano Premoli Trovati have stepped down from their positions. They are succeeded by Bernhard Forster, who joins as a Non-Executive Director.

Cavotec

• As proposed by the Board of Directors, Cavotec’s Extraordinary General Meeting (EGM) formally accepted the resignations of Johan Patrik Tigerschiöld, Niklas Edling, Annette Kumlien, Keith Svendsen, and Peter Nilsson, effective July 16, 2025. The EGM also approved the Board’s recommendation to fill these vacancies by electing Vanessa Tisci, Joakim Wahlquist, Martin Momo Semelis, Jonathan Eriksson, and Willian Cheyne on the same day.

Corintis

• The Swiss startup Corintis expanded its Board with two high-profile appointments: Intel CEO Lip-Bu Tan and Geoff Lyon, former CEO and founder of Coolit, both bringing deep expertise in semiconductors and advanced cooling solutions. These developments position Corintis as a fast-emerging leader in chip cooling, enabling more powerful, energy-efficient data centers and paving the way for future chip architectures.

Frutiger

• Phyllis Scholl has been appointed as member of the Board of Directors, effective June 2025.

Givaudan

• Gilles Andrier will become Chairman of Givaudan at the 2026 Annual General Meeting on 19 March 2026, bringing over two decades of leadership experience as CEO and deep industry knowledge to guide the company’s long-term growth. He succeeds Calvin Grieder, who will step down as Chairman and leave the Board after 12 years of service marked by strong governance and strategic oversight.

Global Blue

• Pietro Raffaele Candela, Thomas Klein, Christian Yannick Lucas, Joseph Howard Osnoss, and Ulf Helge Pagenkopf have left their positions as Non-Executive Directors following the acquisition by Shift4, effective July 3, 2025.

• Jordan Ross Frankel has been appointed Chair at Global Blue, following Thomas Farley’s departure, effective July 3, 2025.

Graubündner Kantonalbank

• Ines Pöschel will step down from her role as Independent Board Member at Graubündner Kantonalbank, effective March 31, 2026. Her departure marks the end of her tenure on the Board, where she contributed her expertise in governance and strategic oversight.

IWB

• IWB announced that Chairman Urs Steiner will step down at the end of 2025, alongside Board members Mirjana Blume and Rudolf Rechsteiner. Steiner, who has served as Chairman since 2019, oversaw key developments including the expansion of district heating and solar energy activities. Blume leaves after 12 years on the Board, while Rechsteiner departs after reaching the term limit, having served since IWB’s independence in 2010.

Kuros Biosciences

• Albert Arp has resigned with immediate effect from the Board of Directors of Kuros Biosciences for personal and professional reasons. Oliver Walker is now Chair of the Audit and Risk Committee, and Kimberley Elting has been appointed to the Audit and Risk Committee, as well as Chair of the Compensation and Nomination Committee.

Leclanché

• Jean-Michel Pacaud and Raphaël Houillon were nominated for election to the Board of Directors by Leclanché’s majority shareholder SEF-LUX and elected at the Annual General Meeting in August 2025. Pacaud brings extensive experience from a 36-year career at EY Luxembourg, with deep knowledge in auditing, governance, and M&A. Houillon contributes over 13 years of expertise in private equity, restructuring, and cross-border investments, advising on strategy, governance, and long-term value creation.

LEM Holding

• Ueli Wampfler did not seek reelection and stepped down from his position of Board Member at LEM Holding during LEM’s General Meeting on June 26, 2025.

Meyer Burger

• Meyer Burger is temporarily governed by a sole board member, as the Regional Court Oberland has appointed Chairman Franz Richter, as the only member of the Board of Directors until from July 2025 to June 30, 2026, following the departure of Andreas Herzog. This judicial appointment was necessary to maintain the company’s ability to act after the postponement of the extraordinary general meeting. The arrangement remains subject to potential changes by the shareholders at any general meeting held before mid-2026.

Nestlé

• Paul Bulcke is stepping down from his role as Chairman earlier than planned, according to the company, and will be replaced by Vice Chairman Pablo Isla, effective 1 October 2025. Isla was supposed to succeed Bulcke in 2026.

• Nestlé has announced two new Board appointments effective October 1, 2025: Arie (Dick) Boer will assume the role of Lead Independent Vice Chairman, while Marie-Gabrielle Ineichen-Fleisch will become Independent Vice Chair.

Raiffeisen

• Thomas Müller will not seek re-election as Chairman of the Board of Raiffeisen Schweiz at the General Assembly on 19 June 2026, marking the conclusion of his approximately four years in that role and eight years on the Board. The Board will immediately begin the succession process, citing the start of the new strategic period in 2026 as the appropriate moment for handing over the presidency.

Repower

• Repower has appointed Barbara Janom Steiner as Chair of the Board of Directors following its 121st AGM on May 14, 2025, succeeding Dr. Monika Krüsi after her seven-year tenure as Chair. Janom Steiner, a former member of the Graubünden government and current President of the Swiss National Bank’s Bank Council, has served on Repower’s Board since 2023.

• The General Meeting also re-elected Beat Huber, Giovanni Jochum, and Dr. Urs Rengel, while Daniel Bucher, Gian Andri Diem, and Phyllis Scholl joined as new Board members, marking a renewed phase of governance for the company after one of the strongest financial years in its history.

Siegfried

• Siegfried announced upcoming changes to its Board of Directors, with long-standing Chairman Andreas Casutt stepping down in 2026 after 16 years on the Board, including 12 as Chairman. The Board has proposed Beat Walti, a member since 2022 and Chairman of the Ernst Göhner Foundation, Siegfried’s largest shareholder, as Casutt’s successor, bringing strong governance expertise and international board experience.

SMG Swiss Marketplace Group

• Ahead of its IPO on 19 September 2025, SMG Swiss Marketplace Group has expanded its Board of Directors with four new members: Tracey Fellows, Malte Krüger, Stefan Räbsamen, and Barbara Stamm, effective 2025. Fellows, Krüger, and Räbsamen join as independent members, while Stamm represents Mobiliar Holding, strengthening both independent governance and shareholder representation.

YPSOMED Holding

• Betül Susamis Unaran has left her position as a Board Member, while Marie-Pierre Zerr has been appointed a member of the Board of Directors, both effective July 2, 2025.

Contact

Dominik Brülisauer
Russell Reynolds Associates
Stampfenbachstrasse 5 | 8001 Zurich | Switzerland
Direct: +41-44-447-30-46
Mobile: +41-79-549-80-28
dominik.bruelisauer@russellreynolds.com