German herbal liqueur producer Semper idem Underberg has promoted its chief financial officer Michael Söhlke to the position of CEO.
The appointment, which takes effect immediately, comes as the company moves to realign its management structure.
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As part of the process, the company extended the contracts of both managing directors, Söhlke and chief commercial officer (CCO) Thomas Mempel, ahead of schedule.
Söhlke joined Underberg as CFO in 2020. He was also the spokesperson of the management board.
In its statement, the company said Söhlke will concentrate “even more strongly” on the sustainable development and execution of group strategy, and on enhancing “performance and capital structure”.
Prior to Underberg, Söhlke held senior roles at MediaMarkt, Metro AG and Haniel.
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By GlobalDataHe is also set to take a seat on the Supervisory Board of Gurktaler in Vienna, a subsidiary of the Underberg Group, as deputy chairman next year.
Söhlke said: “We have recently made many improvements, built a good and ambitious team, achieved initial successes, and want to continue our long-term growth trajectory in the future.”
As part of the restructuring, Mempel’s remit has also been expanded. In addition to his current responsibilities as CCO, he will take charge of strategic marketing.
This change will bring together brand management and operational marketing in Germany for the company’s own labels, including Underberg, Asbach, PITÚ and St. Hubertus-Tropfen.
Mempel, who previously held positions at FMCG companies such as Struik Foods Europe and HJ Heinz, said: “Following the successful brand modernisation of recent years, this integration forms the basis for the next ramp-up phase.
“Our goal is to align sales and marketing more clearly and efficiently across all touchpoints. Together with our partners in retail and hospitality, we are creating a credible and authentic brand experience for our national and international customers.”
Founded in 1846 and headquartered in Rheinberg, Underberg markets its products in its domestic market and in other regions such as the Netherlands, Russia, Belgium, Brazil and the US.
The group also distributed for other brands including Bols Liqueurs, Gurktaler, Tambovskaya, Koskenkorva Vodka, Gin Gold, and Unicum Zwack.
Underberg operates production facilities in Rüdesheim am Rhein, where its own brands, including Underberg and St. Hubertus-Tropfen, are bottled and packaged. It also maintains additional offices on Bahnhofstrasse.
For the six months to September, Underberg generated revenue (excluding spirits tax) of €42.2m ($49.5m), up 3.7% year-on-year, largely driven by higher sales of St. Hubertus, a brand of St. Nikolaus.
EBITDA rose 46.2% to €3.8m over the same period, while sales volume increased to 6.9 million litres from 6.7 million litres a year earlier.
