Schneider Electric (SBGSY): Company Profile, Stock Price, News, Rankings
French multinational Schneider Electric supplies products and services for industrial automation and energy management. Revenues rose to a record $35.9 billion in 2022, as Schneider worked to clear a backlog of orders built up during COVID-19, while profits fell 3.5% to $3.7 billion.
- Schneider enjoyed its highest revenue growth in North America, driven by its residential and data center offerings.
- In February, the company bid farewell to CEO Jean-Pascal Tricoire after two decades at the helm. Tricoire handed the reins to Peter Herweck, Schneider’s head of industrial automation and the former boss of U.K. engineering software company Aveva.
- Schneider completed the acquisition of the 40% of Aveva it didn’t already own in January 2023, for £3.9 billion ($4.8 billion). Schneider’s strategy is to increase the role of software, services and the Internet-of-Things in its sales mix, and to respond to the twin trends of electrification and digitization.
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