Swiss Packaging Giant Ousts CEO After Five Months, Sends Shares Into Steepest Dive Since 2018 IPO
Published on 08/18/2026 at 22:41 | Redaktion boerse-global.de
The SIG Group AG has parted ways with its chief executive just five months into his tenure, a leadership shake-up that erased as much as 27% of the company's market value in a single session — the steepest intraday slide since the packaging maker went public eight years ago.
Mikko Keto, who took the helm in March 2026, was removed with immediate effect on 17 August 2026, the Swiss firm announced. The board cited the need for "continuity" and faster execution of the corporate strategy, while reports also pointed to a mismatch between Keto's approach and the company's culture as a factor in the decision.
Stepping into the top job is Ann-Kristin Erkens, the group's chief financial officer, who will hold both the CEO and CFO titles on an interim basis. Erkens knows the organisation well: she joined in November 2023 as finance chief and previously ran the company on an interim basis from August 2025 to February 2026.
Board chairman Ola Rollén defended the swift move, arguing that Erkens' familiarity with the business would provide the stability needed to keep strategic initiatives on track without losing momentum. The dual role, he suggested, would allow the company to push ahead with its goals immediately.
Investors were less convinced. The stock tumbled as low as 11.25 Swiss francs during trading, before recovering somewhat to 13.209 francs — still down roughly 17% on the day. Prior to the announcement, the shares had gained 13% since the start of the year.
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The abrupt departure rattled analysts. One at Octavian Bank characterised the episode as a failed appointment at the executive level, while Morgan Stanley's team called the change a negative surprise and questioned whether the company could now deliver its strategy at the pace originally promised.
Despite the turmoil in the boardroom, SIG Group reaffirmed its financial guidance for the current fiscal year. Management continues to expect currency-adjusted revenue growth of between 0% and 2%, assuming stable plastic resin prices, with an adjusted EBIT margin forecast in the range of 15.7% to 16.2%.
The company's first-half results, released earlier this year, showed operational improvement. The adjusted EBIT margin reached 15.6% in the first six months of 2026, up from 14.8% in the same period a year earlier. Free cash flow for the half came in at plus €100 million.
More detail on the long-term direction under Erkens' leadership is expected at a capital markets day scheduled for 27 October 2026.
