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Andreas Schmid will take a stake in Oettinger Davidoff and continue to lead the company as its chairman |
Andreas Schmid, the long-standing chairman of Basel-based Oettinger Davidoff, has become a shareholder in the family-owned premium cigar company.
The descendants of Oettinger Davidoff’s Founder Dr Ernest Schneider, who died in 2009, want Schmid’s expertise with global brands and premium products to be represented within the shareholders, a statement said. The family will maintain a majority share.
Schmid will assist the transfer of responsibility for the company from one generation to the next and help maintain management continuity. He will continue to lead the company as its chairman.
The company stated that Oettinger Davidoff has seen rejuvenated group management and has undergone a “strategic reorientation in recent years based on a concentration on its core business” under Schmid’s leadership. It also highlighted a “very successful” international relaunch of the Davidoff brand.
About Oettinger Davidoff
Oettinger Davidoff has sales of CHF1.23 billion and employs more than 3,500 people worldwide. The company’s wholesale, sales and logistics activities are concentrated on the Swiss market while manufacturing, marketing and selling premium cigars, tobacco products and accessories through retail channels is a global operation. The company is said to be “firmly rooted” in the “crop-to-shop” philosophy and is committed to vertical integration, from its tobacco fields in the Dominican Republic and Honduras to its network of 65 Davidoff flagship stores.
