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André Helfenstein, the former CEO of CS Switzerland, has secured new roles on the Board of Directors for the Gaydoul Group and Amag Leasing AG, marking his transition from banking to other sectors. His experience in corporate finance is expected to enhance capital procurement and leasing operations. Additionally, he will join the Baloise Board of Directors at the next Annual General Meeting, following the establishment of his consulting firm, Metis e4i GmbH.
Barend Fruithof, once a prominent figure in Swiss banking, has made a notable comeback as CEO and Vice Chairman of Aebi Schmidt following its merger with US competitor The Shyft Group, leading to a listing on Nasdaq. Despite losing majority control, Fruithof's drive and financial expertise position him at the forefront of the new entity, while Peter Spuhler steps down from his chairman role. The merger marks a significant shift for Aebi Schmidt as it aims to become a leader in the municipal vehicle market.
Aebi-Schmitt is merging with the Shyft Group, creating a billion-dollar specialty vehicle company with a combined turnover of $1.9 billion. Barend Fruithof will lead the new entity, which will be listed on Nasdaq, while the majority shareholder retains a 35% stake. This merger positions Aebi-Schmitt for significant growth in the U.S. market, with expected EBITDA of $200 million and enhanced product offerings.
Barend Fruithof
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