SIG appoints FLSmidth chief Mikko Keto as new CEO, signalling next phase of growth

SWITZERLAND – Swiss-based packaging giant SIG has announced the appointment of Mikko Keto as its next Chief Executive Officer, with his formal start date set for the first half of 2026.

Keto, currently CEO of Danish engineering group FLSmidth, will be based at SIG’s headquarters in Switzerland.

Keto brings a strong track record in industrial transformation. Since taking the helm at FLSmidth in 2022, he has overseen a sweeping restructuring program marked by cost-cutting, portfolio optimization, and the successful execution of a major divestment and merger.

Under his leadership, FLSmidth doubled its enterprise value, a key achievement that strengthened investor confidence.

“I am thrilled to be appointed CEO of SIG,” Keto said. “The group has a high-quality business model, with engineering, innovation and sustainability at its core. I look forward to leading the company into its next chapter and building on its strong foundation.”

Keto’s extensive career includes senior roles at Metso, where he served as president of services and pumps, as well as leadership positions at Nokia Networks and KONE. He has also been a board director and audit committee member at Normet Group since 2019.

SIG Board chairman Ola Rollén welcomed the incoming CEO, saying, “Mikko brings an impressive track record of driving business and cultural transformations in engineering-led systems businesses.

“We are confident he will guide SIG to release its growth and innovation potential, helping build a simpler, leaner and more agile company.”

Rollén also thanked CFO Anne Erkens, who is serving as interim CEO during the transition period.

Founded in 1853, SIG is one of the world’s leading providers of aseptic carton, bag-in-box and spouted pouch packaging solutions.

The company generated €3.3 billion (US$3.82bn) in revenue in 2024, producing around 57 billion packs annually across more than 100 countries with its 9,600-strong workforce.

Meanwhile, the company recently equipped Seoul Dairy with its first recyclable aseptic carton.

In the first move, SDC will offer organic white milk in SIG Terra Alu-free + Full barrier. This innovation, developed by SIG, is the world’s first full-barrier aseptic carton packaging material without an aluminum layer.

The environmental benefits are substantial. Although aluminum accounts for only about 5% of a standard aseptic carton’s weight, it contributes about 25% of its carbon footprint.

Eliminating the aluminum layer significantly reduces environmental impact while also paving the way for simplified recycling. Under Korea’s current environmental regulations, the new packaging introduced by SDC is officially labeled recyclable.

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