Mon Nov 04 09:05:38 UTC 2024: ## Schneider Electric CEO Fired Amidst Disagreements on Company Roadmap

**Paris, France -** Schneider Electric, the French electrical equipment manufacturer, announced today the immediate termination of CEO Peter Herweck’s duties. The board of directors cited disagreements on the implementation of the company’s roadmap as the reason for his dismissal.

Herweck, who held the position for 18 months, will be replaced by Olivier Blum, currently head of the group’s Energy Management business.

The decision comes at a time when Schneider Electric faces significant opportunities in the market. The company’s recent results show a strong performance in the electrification sector, exceeding expectations and confirming its 2024 targets.

The board of directors is confident that Blum’s leadership will enable the company to successfully navigate these opportunities and execute its strategic plan.

Herweck previously served as CEO-Process Industries & Drives Division at Siemens AG and held various leadership positions at Schneider Electric before becoming CEO. He currently sits on the board of Teradyne, Inc. and AVEVA Group Plc.

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