Bloomberg News

Schindler Lobbies to Make Executives Pay Cartel Fines, HZ Says

August 23, 2012

Schindler Holding AG (SCHP) is lobbying the Swiss government to make managers responsible for cartel fines by revising a law, Handelszeitung reported, citing an interview with Schindler general counsel Karl Hofstetter.

Schindler was fined 144 million euros ($181 million) in 2007 when it and three other elevator-makers were penalised by the European Union for cartel activity in Belgium, Germany, Luxembourg and The Netherlands.

To contact the reporter on this story: Patrick Winters in Zurich at pwinters3@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net


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