China has become the world’s largest manufacturer and seller of elevators, with an average annual growth of 20 percent over the past ten years. With a population in excess of 1.3 billion, China is becoming increasingly urbanized and is experiencing a high-rise building boom. Seven of the 10 tallest buildings in the world that are currently under construction are in China.

In a press release today, Schindler announced changes in their executive committee in response to demand for new elevator installations in China.

According to Schindler, Asia Pacific, India and specifically China now represent more than two-thirds of global demand for new installations in the elevator business. Schindler’s board recognizes that this market shift, as well as the significant ongoing investment in China requires a greater allocation of senior management resource. China will therefore be led by a dedicated member of the Group Executive Committee.

Mr Thomas Oetterli, currently Head of Europe North will take the new position as Head of China, with overall responsibility for all the Schindler’s operations in China. Mr Thomas Oetterli will report to Mr Silvio Napoli, Head of Asia Pacific who will remain in his current position.

Mr Oswald Schmid, currently Head of Schindler Germany, will succeed Mr Thomas Oetterli as Head of Europe North.

As a consequence, the Group Executive Committee will as of April 1, 2013, be composed as follows: Jürgen Tinggren, CEO, Erich Ammann, David Clymo, Didier Gaudoux, Albert Haffert, Silvio Napoli, Thomas Oetterli, Miguel A. Rodriguez, Oswald Schmid and Jakob Züger.