Alfred N. Schindler hands over CEO function to Jürgen Tinggren

As already announced at the Annual Results press conference of February 17, 2011, Alfred N. Schindler is handing over the role of CEO and therefore the operating responsibility to Jürgen Tinggren. At its meeting of September 22/23, 2011, the Board of Directors of Schindler Holding AG appointed Jürgen Tinggren, formerly President of the Management Committee, as CEO as of October 1, 2011, thereby approving the functional handover. Alfred N. Schindler remains as before Chairman of the Board of Directors of Schindler Holding AG as well as Chairman of the Executive Committee of the Board of Directors.

Luc Bonnard, Vice Chairman of the Board of Directors of Schindler Holding AG, due to his approaching retirement, is to step down from the Executive Committee of the Board of Directors at the Annual General Meeting of March 19, 2012. However, he remains Vice Chairman of the Board of Directors.

The Board of Directors has further decided to propose the election of Dr Rudolf W. Fischer, Head Corporate Human Resources and Member of the Management Committee, to the Board of Directors, at the Annual General Meeting of March 19, 2012. Following his election, it is foreseen that Dr Rudolf W. Fischer joins the Executive Committee of the Board of Directors as the successor of Luc Bonnard.

David Clymo has, at the decision of the Board of Directors, been appointed Head Corporate Human Resources and Member of the Management Committee, as of January 1, 2012, and therefore replaces Dr Fischer, who will relinquish his office as of January 1, 2012 and therefore step down from the Management Committee.