Chairman Alfred N. Schindler to hand over CEO role to Jürgen Tinggren

17.02.2011

Alfred N. Schindler, Chairman and CEO of the Schindler Group, has expressed his intention to hand over the role of CEO to Jürgen Tinggren, who is currently president of the Elevator & Escalator division.

Contacts

For media:
Press Office
Tel. +41 41 445 30 60
corporate.communications@schindler.com

For investors & analysts:

Marco Knuchel
Head Investor Relations
Tel. +41 41 445 30 61
investor.relations@schindler.com

However, Mr Schindler will remain in his role as chairman of the Board of Directors and of the Executive Committee of the Board of Directors, which is responsible for the supervision of the company.

Mr Schindler announced the decision at the company's annual results press conference in Lucerne, Switzerland, on February 17, 2011. He said that, following the sale of Schindler's majority stake in the ALSO Group, Schindler Holding Ltd. is now a "pure-player" and all other spin-offs have been completed. As a consequence it makes no sense to have a one-over-one management structure.