EUROPE – Schur Flexibles Group, Europe’s leading provider of flexible packaging has appointed Michael Schernthaner as the new Chief Executive Officer of the company.
Michael Schernthaner, 41 has been appointed to the helms after serving two years as Schur’s CFO and will work together with COO Juan Luís Martínez Arteaga and Chief Sales Officer Friedrich Humer.
Dr. Michael Fischkin, formerly Senior Manager Finance Projects, will be joining Schur Flexibles’ top management team as Group Finance Director.
Thomas Unger, partner of Schur owner Lindsay Goldberg, will support management as Chairman of the Advisory Board.
“The management team has shown that the company can combine growth momentum, innovative capability, customer orientation and value orientation,” said Thomas Unger.
“We will be directing our best endeavours toward supporting Schur Flexibles in reaching the next stage of development through growth that not only is organic but also achieved through acquisitions.
“In view of the strong growth momentum, top management is to be supplemented by a Group Finance Director and Michael Schernthaner, who was already responsible as CFO for M&A and Strategy, can concentrate above all on taking the company’s strategic development further.”
Schur Flexibles offers high quality, customized high-barrier packaging solutions for the food, tobacco and pharmaceuticals industries.
Its services include extrusion, printing and lamination and on to comprehensive bag production.
Schur Flexibles currently generates around €520 million (US$583.05 million) with more than 1,700 employees in 23 production sites in Western and Eastern Europe.
In March, the company acquired Swedish packaging specialist, Scandiflex Pac to further strengthen its packaging capabilities in the Nordic region.
In 2018, the company strengthened its position in premium confectionery and tea segments by acquiring three packaging businesses.
The three locations acquired from the Clondalkin Group, has about 135 employees and generated a sales volume of over 30 million euros (US$33.62 million) in 2017.