Sudden CEO departure reduces execution visibility

Research evidence excerpt

Sudden CEO departure reduces execution visibility

Global Research

27 July 2026ab

Gurit Equities

SwitzerlandSudden CEO departure reduces execution

visibility Chemicals, Specialty

12-month rating Buy

12m price target CHF43.00CEO Mr. Luhrig set to leave Gurit with immediate effect - a surprise to us

Tobias Luhrig, who joined Gurit as CEO in July 2025, is set to leave the company with

immediate effect "to pursue new challenges". The current CFO Viktor Bernhardt, who Price (24 Jul 2026) CHF30.70

joined in December 2025, is set to take over the role on an interim basis. Mr. Luhrig RIC: GURN.S BBG: GURN SW

leaves Gurit only after ~1 year as CEO, adding to the high management turnover, both

at CEO and CFO levels, that the company had over the last ~2 years. Trading data and key metrics

52-wk range CHF43.90-10.14

Execution visibility is limited for now Market cap. CHF0.14b/US$0.18b

Given the CEO departure, we think there are some uncertainties around strategy and Shares o/s 4.20m (BEAR)

operational execution priorities going forward. We expected this to impact investor Free float 57%

sentiment as we had written in our initial thoughts (link) and continue to believe so. That Avg. daily volume ('000) 12.8

said, the share price reaction was negative on the CEO departure newsflow. Until Gurit Avg. daily value (m) CHF0.5

will update the market on future procedures linked to future execution (CEO profile and Common s/h equity (12/26E) CHF0.07b

priorities) and financials, we see the risk that investor sentiment remains muted. P/BV (12/26E) 2.4x

Net debt to EBITDA (12/26E) 1.2x

We look for an update from Gurit on future financial details

EPS (UBS, diluted) (CHF)

In our most recent note on Gurit, we elaborated on our positive view on the wind

UBS Cons.

market.