Much-respected CEO Hans-Kristian Hoejsgaard departs the company. He is replaced by the current COO Beat Hauenstein

Oettinger Davidoff today announced the departures of Chairman Andreas Schmid and CEO Hans-Kristian Hoejsgaard.

The Swiss cigar house said that after ten years on the board Schmid will leave the company to “concentrate on his other roles at various globally active firms and on his own business activities”.

Schmid, the long-standing Chairman of the Basel-based company, also became a shareholder in March 2014.

The Board of Directors has nominated Domenico Scala as the new Chairman. Scala is a former CFO of Syngenta and CEO of Nobel Biocare.  Notably, he chaired the independent Audit & Compliance Committee of FIFA until May 2016.

Andreas Schmid, the long-standing Chairman of the Basel-based company, also became a shareholder in March 2014

Currently, he is the Chairman of Basilea Pharmaceutica and BAK Basel Economics as well as the President of BaselArea. He is a board member of the Overseers of Tufts University in Boston and a member of the Bank Council of Basler Kantonalbank.

Former Chief Operating Officer Beat Hauenstein succeeds Hoejsgaard “as part of the ongoing rejuvenation of the operational management”, the company said.

Hoejsgaard “has decided to leave the company he has led for seven years in order to concentrate on his board and consultancy mandates outside the company”, Oettinger Davidoff added.

“The Board of Directors would like to thank Andreas Schmid and Hans-Kristian Hoejsgaard for their many years of successful work for the company, and wishes both of them all the best for their personal and professional future,” the company concluded.