Mobimo Holding AG proposed Peter Schaub as the replacement for Chairman Georges Theiler after he said he will not stand for re-election in 2019.

Theiler will step down alongside fellow board member Wilhelm Hansen.

In addition, the company said Christoph Caviezel, the CEO of Mobimo, should be recommended for election to the board.

Caviezel plans to hand over the operational management of the company in spring 2019 after more than 10 years in the role. The search for his successor will start shortly thereafter.