391888527/Casimiro – stock.adobe.com
OUR SHARE TIP ON SCHNEIDER ELECTRIC – On Monday, the energy systems specialist dismissed its chief operating officer due to strategic “disagreements”. The market is sceptical about this radical decision.
Surprise. The word is used in all the analysts’ notes on the sudden departure of Peter Herweck, appointed CEO of Schneider Electric only 18 months ago. The reasons given for this decision by the Board of Directors were “.disagreements over the implementation of the company’s roadmap at a time of significant opportunities“.
In view ofaccelerate the implementation of its strategy and launch the next phase of its development“The board appointed Olivier Blum to the position of Chief Executive Officer. Previously head of the Energy Management business, the Group’s largest with over 82% of billings, Blum has been with the Group for 30 years.
Energy Management accelerates again
In fact, it’s the division headed by Olivier Blum that’s driving growth. It posted sales of 7.65 billion euros in the third quarter, an organic increase of 11.6%, while Industrial Automation fell by 5.9% to 1.66 billion…