Schneider Electric has appointed Olivier Blum as its new CEO, replacing Peter Herweck, who was ousted due to 'divergences in the execution of the company roadmap' after just 18 months in the role. The transition comes as the company seeks to capitalize on opportunities in the AI data center sector and renewable energy, having recently reached an all-time high in share price and reiterated its financial targets. Blum, a long-time employee with over 30 years at Schneider, previously led the Energy Management Business and is expected to drive strategic growth. The company also faces a €470m fine from the French competition authority for alleged price-fixing, which it plans to appeal. This leadership change is seen as crucial to Schneider's efforts in enhancing its operational performance and accelerating its energy management initiatives.