ElevatorsSchindler appoints Josef Ming as interim Chairman
SDA
20.1.2025 - 06:58
Josef Ming is to head Schindler's Board of Directors on an interim basis. (symbolic image)
Keystone
The elevator and escalator manufacturer Schindler has found a new Chairman of the Board of Directors.
Keystone-SDA
20.01.2025, 06:58
SDA
Josef Ming, who was born in 1958, is to be elected to the Board of Directors at the next Annual General Meeting on March 25 and will then take over as Chairman, according to a press release issued on Monday. He will succeed Silvio Napoli, who announced his departure as Chairman and CEO in December.
He is to succeed Silvio Napoli, who announced his departure as President and CEO in December.
However, Ming will only be an interim president, as stated in the communiqué. He will hold the position with a 40 percent workload for a maximum of two years. After that, an internal Chairman or President of the Board of Directors is to be appointed again in a "long-term, full-time position".
The Swiss national Ming is a partner at the consulting firm Bain & Company. He has more than 30 years of experience in industrial and management consulting, including various projects with the Schindler Group.
CEO takes over in February
At the same time, the Schindler Board of Directors has decided that the planned handover of the CEO position should take place quickly. Paolo Compagna, who has been Napoli's successor in this role since December, is to take over on February 1. Compagna has been a member of the Group Executive Board since 2015 and is currently still Chief Operating Officer.
One of his first tasks will be to present the annual figures for 2024 on February 12. Initial details are now being provided: sales growth and the EBIT margin are expected to be in line with the 2024 outlook and the medium-term outlook also remains confirmed.
As is known, the Group is targeting sales growth in local currencies in the low single-digit percentage range and an EBIT margin of 11% for 2024.