Schneider Electric : update on Covid -19
Schneider Electric is closely monitoring and reacting to the unprecedented and rapidly evolving global health and economic crisis due to Covid-19 (Novel coronavirus).
The Group is coordinating its teams globally, regionally and locally to ensure business continuity and is fully focused on the following key elements:
- Ensuring the health & safety of all its employees worldwide and implementing measures and protocols as per government directives;
- Ensuring that customers’ needs are fulfilled to the best of its abilities and leveraging its global supply chain and service organizations to ensure business continuity and flexibility;
- Continuing to focus on cash generation to further strengthen its strong financial liquidity and balance sheet;
- Implementing strict cost management measures and acceleration of previously announced efficiency plans with further cost actions under review;
At this stage and given the evolving landscape, it is too early to determine the full impacts on Group results, including possible benefits from government actions. Therefore, the 2020 guidance issued on February 20th , 2020 is no longer relevant and therefore suspended. The Group is presently working on analyzing the potential scenarios emanating from this crisis and the resultant actions and impact on Schneider Electric. The Group will share an update as the situation further develops.
Commenting on the current situation, Jean Pascal Tricoire, Chairman and CEO said: “The World is today facing an acceleration of the crisis, and very different reactions and measures, changing by the day, in the countries where we operate. While some countries seem to be exiting the full force of the virus, others are only just entering the crisis. Schneider Electric technologies are pervasive and essential in several mission critical applications enabling Hospitals, Data Centers, Water treatment, energy supply, transportation and critical infrastructure. Our country organizations are adapting by the day and deploying plans to make sure all those continue to function and ensure that Life is On. As we jointly navigate through this crisis, our focus is on the health of our customers, employees, partners and stakeholders, and continuity of service for all the communities we serve around the world.”
Related Spokespeople
Jean-Pascal TRICOIRE
ChairmanJean-Pascal Tricoire is the Chairman of Schneider Electric. He previously served as COO of Schneider from 2003, CEO from 2006 to 2013, and Chairman and CEO from 2013 to 2023. Under Jean-Pascal’s leadership, Schneider has transformed and become a technology company leading in software, sustainability, digitization, and electrification. As CEO, he redefined the company’s purpose and technology portfolio, quadrupling Schneider’s revenues across its balanced geographical footprint. Jean-Pascal joined Schneider Electric in 1986 and held various positions across France, Italy, China, South Africa, the United States and Hong Kong. In 2001, he first joined the company’s Executive Committee to take charge of Schneider’s international division. Jean-Pascal also serves as an independent director on the board of Qualcomm. He is a director of the worldwide board of the United Nations Global Compact, a United Nations #HeForShe Corporate IMPACT champion and a member of the International Business Council of the World Economic Forum as well as the Asia Business Council. He is also a member of the board of trustees of Northeastern University. Jean-Pascal is a member of the International Advisory Council of the Singapore Economic Development Board and a member of the advisory councils of Shanghai, Beijing, and Hong Kong. He led the France-China Business Council from 2009 to 2019. He is a Knight of the Legion of Honor and an Officer of the National Order of Merit in France. Jean-Pascal is committed to leverage technology to create a net zero and inclusive future for all. He is passionate about technology and software, access to energy, sustainable development and diversity, equity and inclusion.Read more
Attached files
Adoption of Wiztrust's Blockchain Certification Platform
From October 2nd, 2019, in order to secure its communication, Schneider Electric certifies its contents on Wiztrust. You can check the authenticity on the website Wiztrust.com for Corporate communications.
