From 2nd May this year CEO Jean-Pascal Bobst will directly look after BU sheet-fed division, which until now as headed by Hakan Pfeiffer, who will be leaving the company.

In another realignment move, Attilio Tissi, head of Bobst SA, will take over the position of the Group CFO ad interim, in place of CFO Christian Budry who will also be leaving the company.

The difficult market and currency situation has forced the company to trim its Swiss-based activities.

While Bobst posted a growth of +21% in 2010 compared to 2009, the profit level still needed to improve, say company officials in a statement released to the press. They say that July 2010 saw the beginning of a very volatile period for the exchange rates (CHF against EUR, US$ and £), which created major challenges for Bobst Group.

In January this year, Bobst acquired 65% stake in HongKong based Gordon Ltd., However, the brand identities, management teams, sales and service organizations of both companies will remain separate.