HomeNews

16.02.2022 | Advanced Manufacturing | Reading-time: 3 min

Schindler streamlines management

Ebikon - Schindler from the canton of Lucerne has introduced a streamlined leadership structure, enabling faster decision making. This will allow the manufacturer of lifts worldwide to introduce measures more swiftly for improving competitiveness. In the 2021 financial year, growth was recorded in both revenue and profit.

Schindler is introducing a streamlined leadership structure with direct decision-making capabilities. The Group plans to accelerate the execution of strategic priorities, as the Lucerne manufacturer of  lifts and escalators worldwide reported in a press release. “We are determined to regain our competitiveness and close profitability gaps while driving innovation and doing our part in the transition to smarter and more sustainable cities,” said Silvio Napoli, Schindler’s Chairman & CEO.

The Chief Operating Officer Paolo Compagna will be responsible for driving the strategy execution. As of 1 March 2022, Robert Seakins will move from Field Quality & Excellence to the Group Executive Committee with responsibility for Asia-Pacific. “In line with the Group’s objective to create simpler leadership structures”, his successor will report to Paolo Compagna in a position outside the Group Executive Committee. The current President Asia-Pacific, Jujudhan Jena, is leaving the company of his own volition.

As per the key figures for 2021 reported in the press release, Schindler’s revenue has returned to pre-pandemic levels. In the last financial year, revenue amounted to 11.24 billion Swiss francs, which represents growth of 5.6 percent Operating profit (EBIT) increased by 13.0 percent on the previous year to 1.17 billion francs. Net profit increased by 13.8 percent versus 2020 to reach 881 million francs.

According to the press release, Schindler had already been confronted with increasing material cost inflation, persistent foreign exchange pressure and supply chain disruptions in financial year 2021. The Group expects these to continue affecting business and will therefore increase prices across all products and regions in the current financial year. For 2022 as a whole, and barring unexpected events, Schindler’s revenue growth is expected to reach levels between 1 percent and 6 percent in local currencies.

Schindler Aufzüge AG

 

 

share