(AFP / JOEL SAGET)
The French electrical equipment giant Schneider Electric announced Monday that it was terminating the functions of its general director for a year and a half, the German Peter Herweck, after “disagreements” over “the implementation of the road map” of the company that achieved record sales in the third quarter.
Frenchman Olivier Blum, 54, currently head of the group's energy management activity, succeeds him “immediately”, the company said in a press release.
“The board of directors has decided to terminate the role of CEO of Peter Herweck following disagreements in the implementation of the company's roadmap at a time of significant opportunity,” Schneider Electric explained.
The group confirmed its objectives for 2024 last Wednesday after record activity in the third quarter, driven by products and services linked to the energy and digital transition. Turnover increased by 5.9% during the period, to 9.3 billion euros. And it reached 27.5 billion euros over the first nine months of the year.
Schneider Electric, which had raised its annual objectives in the second quarter, still expects like-for-like growth in its gross operating income (adjusted EBITA) in 2024 of between 9% and 13%.
Good results tarnished by the announcement the same day of a fine of 207 million euros imposed by the Competition Authority for an agreement between manufacturers and distributors of low voltage electrical equipment.
Together, the four sanctioned companies received a fine of 470 million euros.
Peter Herweck became general manager of the global giant in May 2023, a consecration after 40 years of career in electricity, from changing fuses to supervising energy management software.
