Bloomberg News

Schindler Picks Juergen Tinggren as Chief Executive Officer

September 28, 2011

Sept. 28 (Bloomberg) -- Schindler Holding AG, a Swiss-based maker of escalators, said Juergen Tinggren will take over as chief executive officer on Oct. 1.

He replaces Alfred Schindler, who will remain chairman, the company said today in an e-mailed statement.

Tinggren, educated in Sweden and the U.S., joined Schindler in 1997 after 12 years at Sika AG, where he eventually headed North American operations. He has been president of Schindler’s management committee since 2007 with responsibility for the Asia-Pacific region, according to the company’s website.

Under Schindler, a director since 1977 and CEO since 1985, the Hergiswil, Switzerland-based company pursued growth in Asia, saying earlier this month that “we are extremely interested in the elevator and escalator market in Korea.”

Schindler also said Luc Bonnard will leave the executive committee in March 2012, to be replaced by Rudolf Fischer. Bonnard stays on as vice chairman.

To contact the reporter on this story: Leigh Baldwin in Zurich at lbaldwin3@bloomberg.net

To contact the editor responsible for this story: Leigh Baldwin at lbaldwin3@bloomberg.net


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