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Forbo: CEO search in advanced stage; CFO recruitment started
ByAinvest
Tuesday, Jul 29, 2025 12:01 am ET1min read
Forbo: CEO search in advanced stage; CFO recruitment started
Forbo Holding AG, a leading producer of floor coverings, building and construction adhesives, and belts for power transmission, has announced significant changes in its executive leadership. The company is currently in the advanced stage of searching for a new CEO and has initiated the recruitment process for a new CFO. These moves come amidst a challenging market environment and follow the departure of Jens Fankhänel as CEO and Andreas Jaeger as CFO.In the first half of 2025, Forbo reported net sales of CHF 546.9 million, a 1.5% decline in local currencies compared to the prior-year period [1]. The company attributed the decrease to lower volumes, currency translation effects, and inflation-driven personnel cost increases. Despite these challenges, Forbo maintained a solid balance sheet with a net cash position of CHF 34.2 million and a robust equity position of CHF 607.6 million at the end of June 2025.
The company has been focusing on operational efficiency, cost management, and innovation to enhance profitability. Forbo's Movement Systems division faced weaker-than-expected results, while the Flooring Systems division delivered solid performance. The company is also expanding its sustainable portfolio and investing in digital customer experiences.
Forbo's CEO search is in an advanced stage, and the recruitment process for a new CFO has commenced. The interim CFO will bridge the gap until the new CFO takes over. Forbo aims to continue its strategy of investing in sustainable offerings, growth markets, and enhanced digital customer experiences while exploring external growth opportunities.
The company anticipates a slight year-on-year decline in net sales for the full financial year 2025 but expects a slight improvement in profit in the second half of the year. However, the full-year 2025 profit is expected to decline significantly compared to the prior year.
Forbo's executive changes reflect its commitment to maintaining continuity and stability amidst market challenges. The company remains focused on its proven strategy and is well-equipped to navigate the ongoing challenging market environment.
References:
[1] https://www.finanznachrichten.de/nachrichten-2025-07/66020114-adhoc-forbo-holding-ag-forbo-half-year-report-2025-023.htm
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