Schneider Electric Appoints Olivier Blum as CEO Amid Market Challenges and Regulatory Scrutiny

Schneider Electric’s Board on Monday announced the appointment of Olivier Blum as Chief Executive Officer (CEO) with immediate effect by replacing Peter Herweck. The board is chaired by Jean-Pascal Tricoire, who transformed Schneider into one of France’s leading companies.

This leadership shift comes as Schneider navigates challenges, including supply chain constraints that have impacted sales growth in North America, particularly in the U.S. residential buildings sector. Additionally, the company was recently fined by French regulators in a price-fixing investigation.

Despite these hurdles, Schneider reaffirmed its full-year financial targets last week.

Blum, 54, has been with Schneider for over three decades and joined the Executive Committee in 2014. Most recently, he served as the technology and operations leader of Schneider’s largest business unit and has held various senior positions, including country head for India and strategic leader in China.

Herweck, who joined Schneider in 2016, stepped into the CEO role after Tricoire’s tenure ended in 2023.

The leadership change comes shortly after Schneider was among several companies fined by French antitrust authorities for price-fixing.