January 15, 2019 / 7:04 AM / a month ago

UPDATE 1-Straumann says CEO Gadola to step down in 2020

(Adds details, comment from company)

ZURICH, Jan 15 (Reuters) - Straumann Holding Chief Executive Marco Gadola will step down at the start of next year, the dental implant maker said on Tuesday, as the current head of its North American business is groomed to replace him.

Gadola, the CEO since 2013, will remain as a board member after being replaced by Guillaume Daniellot, the Swiss company said, adding it has been working on key succession plans since Gadola said he wanted to shed the CEO mantle in 2020.

Gadola has overseen six years of expansion at the Basel-based company, adding clear aligners - a method used to correct crooked teeth -, software and oral scanning technology while expanding in markets including India and Turkey. Sales have doubled to 1.1 billion Swiss francs ($1.12 billion), a figure Straumann wants to push to 5 billion francs in the next decade with Daniellot, a Frenchman, at the helm.

"We are delighted that we can fill this position internally," Straumann Chairman Gilbert Achermann said in a statement, adding Daniellot's replacement in North America will be announced in due course.

Straumann's stock price has risen from about 100 francs to 667 francs per share since 2013. ($1 = 0.9811 Swiss francs) (Reporting by John Revill)

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