Schneider Electric replaces CEO to accelerate strategy execution

Mathias de Rozario - Reuters - 04/11
Schneider Electric has ousted CEO Peter Herweck with immediate effect, the French industrials giant said on Monday, citing issues with his execution of the company's strategy.
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Nov 4 (Reuters) - Schneider Electric (SCHN.PA), opens new tab has ousted CEO Peter Herweck with immediate effect, the French industrials giant said on Monday, citing issues with his execution of the company's strategy.
"The Board of Directors decided to remove from office Peter Herweck as Chief Executive Officer due to divergences in the execution of the company roadmap at a time of significant opportunities," the company said in a statement.
Schneider Electric could not be immediately reached to clarify what those divergences were.
Herweck had been the CEO of Schneider, which specialises in digit...
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