Barend Fruithof
SHYFAbout Barend Fruithof
Group CEO of Aebi Schmidt Holding AG since 2017 and Vice Chairman of the combined company’s board following the July 1, 2025 merger with The Shyft Group; not a director of Shyft in the company’s 2024 or 2025 proxy statements. Background includes senior banking roles (Executive Board at Julius Baer; Head of Corporate & Institutional Clients at Credit Suisse; CFO at Raiffeisen Switzerland) and an EMBA from the University of St. Gallen. Age not disclosed in SHYF filings; third‑party profiles list him as CEO and director of Aebi Schmidt post‑merger.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Julius Baer | Member of the Executive Board; Head roles incl. Private Banking leadership | Not disclosed | Senior leadership of client-facing banking units |
| Credit Suisse | Managing Director; Head of Corporate & Institutional Clients | Not disclosed | Led corporate/institutional client franchise |
| Raiffeisen Switzerland | Chief Financial Officer; developed Viseca Card Services | Not disclosed | Built payments capability; financial leadership |
External Roles
| Organization | Role | Tenure |
|---|---|---|
| Aebi Schmidt Holding AG | Group CEO (2017–present); Director (from July 1, 2025) | 2017–present |
| Aebi Schmidt Holding AG (Combined Company Board) | Vice Chairman | From July 1, 2025 |
| Zugerbergfinanz AG | Chairman of the Board | Since 2017 |
| ERNI Group | Chairman of the Board | Since 2018 |
| ISS Switzerland | Board Member | Since 2021 |
| Swiss Steel Group | Vice Chairman of the Board | 2022–2024 |
| Amag Leasing | Independent Director | Not disclosed |
Board Governance
- SHYF directorship: Not a director in 2024 or 2025 SHYF proxy statements; therefore, no SHYF committee assignments, chair roles, independence determination, or attendance to report.
- Combined Aebi Schmidt Holding AG: Post‑merger board has 11 members (6 Aebi Schmidt designees; 5 Shyft designees); James Sharman (former SHYF Chair) serves as Chairman; Barend Fruithof serves as Vice Chairman and Group CEO (not independent).
Fixed Compensation
| Employer | Role | Year | Total Compensation | Mix/Notes |
|---|---|---|---|---|
| Aebi Schmidt Holding AG | Group CEO | Latest available (3rd‑party) | US$1.70M | 50.8% salary; 49.2% bonuses/stock/options |
Note: No SHYF non‑employee director compensation applies, as he is not a SHYF director in 2024/2025 proxies.
Performance Compensation
- No SHYF director equity/option awards apply (not a SHYF director).
- Aebi Schmidt CEO incentive mix summarized above from third‑party profile.
Other Directorships & Interlocks
| Company | Type | Potential Interlock/Exposure |
|---|---|---|
| Zugerbergfinanz AG | Financial institution (Chair) | No SHYF disclosed RPTs with this entity in 2023–2024; none referencing Fruithof. |
| Swiss Steel Group | Industrial (former Vice Chair) | No SHYF disclosed RPTs referencing this entity. |
| ISS Switzerland | Facility services (director) | No SHYF disclosed RPTs referencing this entity. |
| Amag Leasing | Auto leasing (independent director) | No SHYF disclosed RPTs referencing this entity. |
Expertise & Qualifications
- Strategic and financial leadership (CEO of Aebi Schmidt; prior CFO of Raiffeisen; senior roles at Credit Suisse and Julius Baer).
- Industrial operations leadership in specialty vehicles and municipal/airport equipment markets via Aebi Schmidt.
- Education: EMBA, University of St. Gallen (2000–2001).
Equity Ownership
| Company | Shares Owned | Ownership % | Estimated Value |
|---|---|---|---|
| Aebi Schmidt Holding AG (AEBI) | 1,830,368 shares | 2.37% | ~US$23.0M (as of Aug/Sep 2025) |
No SHYF share ownership or insider filings for Fruithof found in SHYF proxies (2024, 2025).
Governance Assessment
- Role at SHYF: Not a director; therefore, no SHYF board effectiveness or attendance findings apply. This avoids SHYF‑specific independence conflicts but also means no direct SHYF governance influence pre‑close.
- Combined company oversight: As Group CEO and Vice Chairman post‑merger, Fruithof is a non‑independent leader central to strategy and integration. This is aligned with management control but requires strong independent chair leadership (James Sharman) and committee rigor to mitigate concentration of power.
- Related‑party/Conflicts: SHYF reported no related‑party transactions requiring board approval in 2023 or 2024; none referenced Fruithof. Post‑close, standard change‑in‑control and integration dynamics apply, with no specific RPTs disclosed involving Fruithof.
- Signals for investor confidence: Public communications reaffirm revenue/EBITDA outlook and integration focus post‑merger under Fruithof’s leadership; however, North America commentary acknowledged a sales shortfall versus initial plans for legacy Shyft, highlighting execution risk the leadership must address.
RED FLAGS
- None identified at SHYF (not a director; no RPTs disclosed related to him). Execution risk on integrating legacy Shyft businesses and meeting targets was acknowledged by management, warranting continued monitoring of governance and performance alignment at the combined company.
Sources
- SHYF 2025 Proxy (DEF 14A): Directors list, governance, RPTs (no Fruithof)
- SHYF 2024 Proxy (DEF 14A): Directors list, governance, RPTs (no Fruithof)
- Aebi Schmidt Form 10‑Q (Q3‑2025): Merger close, board composition (Fruithof Vice Chair; Sharman Chair)
- Aebi Schmidt 8‑K/Press (Nov 13, 2025): Outlook; leadership communications
- Aebi Schmidt earnings call (Q3‑2025): Integration commentary and North America shortfall
- Third‑party profiles: compensation/tenure/ownership/background