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SIG shares plunge after CEO is replaced less than six months in
SIG said its transformation program is producing results, citing a 15.6% adjusted EBIT margin in the first half of 2026 and free cash flow up by more than €100 million year over year.
SIG Group shares swung sharply after the Swiss food packaging company replaced CEO Mikko Keto less than six months after he started, without providing detailed explanation. The company appointed CFO Ann-Kristin Erkens as CEO with immediate effect, while keeping her CFO role until a successor is named.
SIG said its turnaround transformation program launched in the second half of last year is beginning to show results. In the first half of 2026, adjusted EBIT margin improved to 15.6% from 14.8% a year earlier, and free cash flow increased by more than €100 million year over year, alongside tighter cost discipline, according to Yahoo Finance.
Despite that update, investors reacted negatively, with the stock falling as much as 27% in Zurich, its steepest intraday drop since SIG listed in 2018. Shares later pared losses to about 16%, the outlet reported.
SIG said the board now views leadership continuity and the pace of execution as priorities. A capital markets day remains scheduled for October 27 in Zurich, where Erkens and management are expected to discuss strategy, priorities, and medium-term value creation, Yahoo Finance said.