The tool manufacturer Hilti has announced early succession plans for its top leadership. Pius Baschera will take over as speaker of the Hilti Family Trust. He will be succeeded by Heinrich Fischer as chairman of the board of directors.
The Martin Hilti Family Trust is the sole shareholder of the Hilti Group and was established with the objective of securing the successful development of the company. The current Trust speaker Michael Hilti will step down in April 2017 and be succeeded by Pius Baschera, the first non-family Trust speaker. In a statement, Hilti described this decision as “taking yet another step in our long-term succession process”.
Baschera has been with Hilti for close to four decades. Born in 1950, the Italian-Swiss dual citizen was group CEO from 1994 to 2006 before becoming chairman of the board of directors. Heinrich Fischer, the former CEO of the eastern Swiss industrial group Saurer, will succeed Baschera as chairman of the board of directors. Although Fischer has been a member of the Hilti board since 2007, he will become the first chairman who has not previously held an operational role in the group. “By initiating this change in the board of directors, we do not intend to change the company but carry on successfully what has existed before with the aim of achieving our ambitious strategic objectives,” said Fischer.