Thomas Hasler is to lead Sika
Sika was able to further increase its sales in local currencies in 2020. New records were achieved in terms of the operating result and net profit. At the beginning of May Thomas Hasler is to succeed Paul Schuler as CEO.
According to a statement from Sika , the globally active Zug-based building materials group was able to post new record values for operating profit and consolidated profit in the 2020 financial year. Specifically, the operating result at EBIT level rose by 7.1 percent year-on-year to 1.13 billion Swiss francs. At the same time, consolidated profit increased by 8.8 percent to 825.1 million francs. Sales grew by 3.4 percent in local currencies to 7.88 billion Swiss francs.
"In 2020, the distribution business and our refurbishment business in particular proved to be particularly resistant to crises," Paul Schuler is quoted in the press release. In the opinion of the Sika CEO, the group will benefit from the growing demand for environmentally friendly products in the future. "A large part of our sales is already generated with technologies that provide customers, the environment and society with sustainable benefits," explains Schuler. For the current year, Sika is aiming for sales growth of between 6 and 8 percent in local currencies.
Schuler will hand over his position to Thomas Hasler at the beginning of May. The current head of Global Business and Industry at Sika has been with the Zug-based building materials group for 32 years, the press release explains. Hasler joined Sika as a research chemist for industrial adhesives and in 2011 took over as head of automotive worldwide. The designated CEO has been a member of the Executive Committee since 2014. The current CEO, Paul Schuler, will be proposed for election to the Board of Directors at the Annual General Meeting in April.