Schindler Holding Ltd.: Changes to the Board of Directors

Ad hoc announcement pursuant to Art. 53 LR

Since Silvio Napoli has decided not to stand for re-election, the Board of Directors of Schindler Holding Ltd. has decided to propose Josef Ming for election to the Board of Directors and as Chairman at the upcoming General Meeting of Shareholders on March 25, 2025. Paolo Compagna will assume the CEO role already as of February 1, 2025.

Josef Ming (Swiss, born 1958) is advisory partner at Bain & Company, Switzerland Inc., and has more than 30 years of industry and management consulting experience, including some major projects with the Schindler Group.

Josef Ming served on Bain’s Global Promotion and Compensation Committee and was a long-term member of Bain's Global Board of Directors. He has deep expertise in global transformation programs, developing growth strategies, operational improvement programs, organizational development, M&A and in divestments.

In this set-up, Josef Ming will take on a 40% mandate for a limited period of two years. Thereafter, the company aims to re-establish a long-term and full-time internal Chairman or Chairwoman.

With the transition of CEO responsibilities well underway, the Board of Directors has also decided to bring Paolo Compagna’s appointment forward. He will assume the CEO role effective February 1, 2025.

Silvio Napoli continues to serve as Chairman of the Board of Directors and the Strategy and Supervisory Committee until the upcoming General Meeting of Shareholders on March 25, 2025. The Board reiterates its gratitude to Silvio Napoli for his outstanding contribution over the last three decades. 

Schindler’s 2024 full-year results will be presented on February 12, 2025. Revenue growth and EBIT reported margin are confirmed to be in line with the outlook for 2024 and we reiterate our mid-term outlook.

About Schindler
Founded in Switzerland in 1874, the Schindler Group is a leading global provider of elevators, escalators and related services. Schindler’s mobility solutions move more than 2 billion people every day all over the world. Behind the company's success are over 70,000 employees in more than 100 countries. Schindler is committed to reaching net-zero emissions by 2040 through a 90% absolute reduction of its greenhouse gas emissions in scope 1, 2 and 3 from a 2020 baseline as its long-term science-based emission reduction target, while working to neutralize its residual emissions.

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Katherine Lee | Head of External Communications
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