Schneider Electric has named Peter Herweck as its new CEO, effective 4 May, 2023.
Herweck will replace Jean-Pascal Tricoire, who spent the past 17 years as CEO. Tricoire will remain as chairman of the board.
Herweck was previously the executive vice president of industrial automation at Schneider, but most recently was the CEO of Aveva.
Schneider Electric spent years trying to buy the industrial software company, with the deal finally closing this January.
With Herweck promoted, Aveva COO Caspar Herzberg will take over the top role.
Herweck was also the CEO of Siemens' process industries and drives division in 2014, and the regional head of Siemens' China division from 2008 to 2010.
"In the last two years, I have had the privilege to lead Aveva where we have undergone a massive transformation. Changing the scale by integrating three great companies – Schneider Electric’s Software, Aveva, and OSISoft," Herweck said. "Launching the Platform of the new Data Hub, including the transition to cloud. Pivoting the organization to offers facilitate the decarbonization of industry."
Jean-Pascal Tricoire added: "After 36 years at Schneider, 20 of which were spent as Schneider Electric’s COO or CEO, I am as passionate about our business, our people, and our customers as when I first started.
"The business is very different than what it was back in 2003 – close to four times the size it was, we have a very well-balanced geographical footprint with a focus on sustainability, digitization, and electrification, and a unique culture."
Schneider this week reported an 18 percent rise in 2022 revenues for a record €34 billion ($36bn), with net income up nine percent to €3.5bn ($3.7bn).