Zumtobel parts ways with its CEO

The executive merry-go-round at Zumtobel Group has accelerated to full tilt, as the company announced the departures of both its CEO Ulrich Schumacher and its chief financial officer Karin Sonnenmoser. The €1.3 billion publicly-traded Dornbirn, Austria LED lighting and services vendor promoted chief operating officer Alfred Felder to “acting CEO,” which makes him interim chairman of the management board as well, which Zumtobel sometimes calls the executive board.