On 15 July 2016, Schaffner Holding AG announced the leaving of the long-term CEO of the Group, Alexander Hagemann, with immediate effect. He is said to pursue new challenges outside of the company. Ad interim, the Group's CFO Kurt Ledermann, who has been with the company for more than 8 years, will take over as CEO. Thus, the Group Executive Committee will consist of Kurt Ledermann, CEO ad interim, Ah Bee Goh, Chief Operating Officer, and Guido Schlegelmilch, Head of the EMC - Schaffner's largest - division. To manage the additional function, he will be supported by his long-term deputy CFO, Christian Herren.