Orior is to nominate board member Monika Friedli-Walser to chair the Swiss food and drinks group and take on “operational responsibility” of the company.
The Switzerland-listed business today (2 April) announced plans to “reorganise” its board. Chairman Remo Brunschwiler is not standing for re-election due to “personal reasons”, Orior said.
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The company’s board of directors will propose at its AGM that board member Monika Friedli-Walser as the new chair.
Meanwhile, acting Orior CEO Filip De Spiegeleire is “stepping down from operational management duties as planned”, the company added.
Orior said Friedli-Walser “in her position as delegate of the board of directors will be responsible for the operational management of the group until further notice”.
The statement added: “In particular, she intends to further strengthen the decentralised management structure.”
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By GlobalDataOrior’s board said it will recommend De Spiegeleire becomes a director “to ensure that his international experience and know-how continue to enrich the group”.
De Spiegeleire. a member of Orior’s group executive board since 2016, assumed the role of CEO last year after Daniel Lutz stepped down as chief executive after almost a decade at the helm.
The planned changes at the top of Orior announced today were set out alongside the publication of the company’s 2024 results.
In February, Orior said the filing of the numbers would be delayed due to an ongoing review of its operations that had uncovered a “valuation discrepancy” regarding its Albert Spiess meats unit.
Orior said today it had generated net sales of SFr642.1m in 2024, versus SFr643.1m a year earlier.
After adjusting for exchange rates, net sales rose 0.5% on an organic basis.
Orior’s convenience-food business, which accounts for roughly a third of sales, declined year on year.
EBITDA reached SFr22.5m, compared to SFr53.3m in 2023. Orior booked a loss at an EBIT level of SFr31.9m due to factors including the lower EBITDA, an impairment of the Albert Spiess business and high pork prices. The company said last month it would sell some Albert Spiess assets to local animal protein processor Mérat.
Looking ahead, Orior said 2025 would be “a year of transition” with contract losses and the sale of the Albert Spiess assets weighing on revenue.
The company added: “Profitability will remain under pressure in the first half of the year due to the tenders lost in 2024 and high input costs. The newly acquired orders in Switzerland and internationally will gradually contribute to sales and compensate for the lost tenders. The focus in 2025 will be on improving results and free cash flow as well as strengthening our decentralised structure and boosting innovative strength in our core business.”
