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Schneider Electric ousts CEO Peter Herweck

Published by Uma Rajagopal

Posted on November 4, 2024

1 min read

· Last updated: January 29, 2026

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(Reuters) – Schneider Electric said on Monday its board of directors had decided to remove CEO Peter Herweck from office with immediate effect, citing “divergences in the execution of the company roadmap”. Herweck, who had been the CEO since May 2023, will be replaced by Olivier Blum, current chief of Schneider’s energy management business. […]

(Reuters) – Schneider Electric said on Monday its board of directors had decided to remove CEO Peter Herweck from office with immediate effect, citing “divergences in the execution of the company roadmap”.

Herweck, who had been the CEO since May 2023, will be replaced by Olivier Blum, current chief of Schneider’s energy management business.

(Reporting by Mathias de Rozario in Gdansk; editing by Milla Nissi)

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What is corporate governance?
Corporate governance refers to the systems, principles, and processes by which a company is directed and controlled, focusing on the relationships among stakeholders and the goals for which the corporation is governed.
What is executive leadership?
Executive leadership involves the management of an organization's operations and resources, typically held by individuals in senior positions, such as the CEO, who guide the company towards achieving its goals.
What is a board of directors?
A board of directors is a group of individuals elected to represent shareholders and oversee the activities of a company, ensuring that it is managed in a way that meets the interests of its stakeholders.
What is a corporate roadmap?
A corporate roadmap outlines the strategic direction and goals of a company, detailing the steps and milestones necessary to achieve its objectives and ensure long-term success.

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