Current CEO Peter Gaugg and board member Matthias Moncher will step down from their roles as of Dec. 31, 2015. The company is to appoint Gerhard Burtscher CEO as of January 1, 2016.

Burtscher will have his management board contract extended until Dec. 31, 2019. CEO Peter Gaugg and board member Matthias Moncher will step down from their roles as of Dec.

31, 2015.