In between all the ITMA 2015 previews, and just in time to be the talk-of-the-town at ITMA in Milan, some news reached the desk of the Rupp Report: Switzerland-based Uster Technologies has announced a new chief executive. Its current CEO, Dr. Geoffrey Scott, plans to take an early retirement by April 2016. He will be succeeded by the company’s Head of Textile Technology Thomas Nasiou. “The announcement, emphasizes Uster’s foresight in formulating a succession plan for the leadership of the company into the future,” reports Uster.
Seamless Transition
In a very textile-like way, Uster reports this succession plan will be a “seamless transition” for the company and its customers. As is it most likely the case with Swiss companies, the handover was planned carefully. Scott has been Uster’s CEO for the past 16 years, and said regarding his chosen early retirement that: “Since the formation of Uster Technologies in 2003 following the first Management Buyout, we have been through some exciting and challenging times, including being publicly listed on the Swiss SIX Exchange. Furthermore we managed the company through the financial crisis, the investment and subsequent takeover by Toyota Industries and most recently the successful acquisition of Jossi Systems.”
A Consequent Move
“We have developed a profound focus on the needs of our customers,” Scott continued. “We are committed to providing the best solutions to help our customers with the many challenges they face in today’s demanding market environment. The work has been enjoyable, but demanding. It is time to slow down a little and to spend more time with my family. It is the right time to step back from the CEO role and hand over the leadership role to a ‘new set of hands.’ And I believe that now is an optimal time from the viewpoint of both the company and our customers. We have the ideal successor here already, so we can work towards a seamless transition for the future sustainability of the business.”
In-house Solution
The press release reports that, “The Board of Directors and Toyota Industries is pleased that the successor for the CEO has been found early and also with the decision of Dr Scott to remain as a Board member, giving continuity of support for the company.”
Thomas Nasiou, the new CEO will take over on April 1, 2016. As current head of textile technology and a member of the Executive Board, Uster said: “Thomas Nasiou has extensive experience of the textile industry, with the company’s customers, markets and the company. His experience has been gained working through the value chain from cotton farming, ginning, and spinning and through various roles in Uster. He has a detailed understanding of the needs of modern textile manufacturers.”
Greek Citizen
The designated CEO was born in 1970 and is a Greek citizen. He has lived in Switzerland since 2006, is married and has two children. He holds an MBA from Hellenic Management Association in Larissa, Greece. And what about a personal statement? “Learning is important for me,” said Nasiou. “That means learning from the customers, our collaborators and our colleagues. Only by applying that knowledge can I help our company to remain focused on quality and remain successful developing solutions that create value.”
From 1995 until 2006, Thomas Nasiou worked as a mill manager and head of quality control at Selected Textiles S.A., in Farsala, Greece. His special responsibilities covered customer support, optimization of production cost and quality, raw material management and liaison with cotton ginning firms. This professional background was the foundation of his expertise in quality-minded spinning. He joined Uster in 2006 as a Textile Technologist.
Head Of Textile Technology
In 2011, he was promoted to Head of Textile Technology and to be a member of the Uster Executive Board. Consequently, in 2014, Nasiou became a member of the Spinners’ Committee of the International Textile Machinery Federation ITMF.
Exiting CEO Geoffrey Scott said about Nasiou: “This background makes him uniquely qualified to take the next step as CEO. His deep textile expertise, knowledge and commitment to Uster and its long term strategy will ensure continuity and stability of the Uster business.”
Over the past few years, the Rupp Report has had the opportunity to meet Thomas Nasiou here and there. The author was always pleased to face a positive personality in terms of professionalism and personal emanation.
October 23, 2015