Ringier: CFO Samuel Hügli to step down from Group Executive Board by mid-year
After four years as Chief Financial Officer of the Ringier Group, Samuel Hügli will step down from the Ringier Executive Board at his own request effective the end of August 2011 to pursue new entrepreneurial challenges.
Hügli will continue to be available to Ringier as a consultant as well as holding various board mandates at Ringier companies. The 40-year-old had been with Ringier for around ten years, including as Head of IT and Head of the Corporate Center. As CFO, he made a significant contribution to Ringier's successful management of the financial crisis, Ringier wrote in a statement on Thursday. He was also one of the leading figures behind the implementation of the Eastern Europe joint venture with Axel Springer, Ringier Axel Springer Media AG, which was realized in 2010. Commenting on his move, Samuel Hügli said, "I will use the coming months to look into the latest Internet business models in the U.S. and Asia and look forward to contributing my knowledge and experience to future mandates thereafter." Information on the CFO successor at Ringier will be provided in due course, according to the statement.
