Schneider Electric's Board of Directors has announced the appointment of Olivier Blum as the new Chief Executive Officer. Blum has been part of the company's Executive Committee since 2014. This decision comes alongside the removal of Peter Herweck from the CEO position due to disagreements over the company's strategy during a period ripe with opportunities. Both changes are effective immediately.
Jean-Pascal Tricoire, Chairman of the Board, commented: "With over 30 years at Schneider Electric, Olivier has proven to be an exceptional and transformative leader. He possesses a deep understanding of our business operations, model, and culture. Olivier has strategically focused on future technology and development, delivering robust and consistent operational performance. His leadership has been evident through the accelerated progress in Energy Management during his tenure."
