Schindler boss wants to catch up with the competition
Published: Monday, Jun 17th 2024, 07:30
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The elevator and escalator manufacturer Schindler is taking a cautious approach to its 150th anniversary. "The biggest danger is to become complacent again," said CEO Silvio Napoli in an interview with the "Neue Zürcher Zeitung" published on Monday.
No big celebrations are therefore planned for the company's anniversary, the CEO continued. Instead, the focus will be on preparing Schindler "for the difficult future".
"There are no laurels as long as you are not the most profitable player in the industry," says Napoli. This is because Schindler is "much less competitive" than its biggest competitor Otis from the USA. The latter currently has a margin of 15.4 percent and can invest more in research, expansion and employees.
"We want to catch up," said the CEO. Specifically, the lift manufacturer is aiming for a margin of 11 percent in the current year. The medium-term target is 13 percent.
Founding family still on board
Meanwhile, the fact that Schindler can continue to count on the support of the founding family is a great advantage. "The family members continue to feel very close to the Group, and that is crucial for its future. They think long-term." The founding family around patron Alfred N. Schindler currently holds 69 percent of the voting rights and around 43 percent of the shares.
He left open how long Group CEO Napoli himself intends to remain in the dual role of Chairman of the Board of Directors and CEO. He also did not comment on whether Board member Tobias Staehelin could potentially follow in his footsteps as CEO.
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