Content - Press Room

  • 19.10.2015

Early Management Succession Planning at Uster Technologies

Succession plan ensures ‘seamless transition’ for company and customers

Uster Technologies is to have a new Chief Executive, in a carefully-planned and phased handover by April 2016. At his own request, current CEO Dr Geoffrey Scott will take early retirement, and will be succeeded by Thomas Nasiou, currently the company’s Head of Textile Technology. The announcement emphasizes USTER’s foresight in formulating a succession plan for the leadership of the company into the future.

Dr Scott, who has been CEO for the past 16 years, has chosen early retirement: “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, managing through the financial crisis, the investment and subsequent takeover by Toyota Industries and most recently the successful acquisition of Jossi Systems,” he says. “We have developed a profound focus on the needs of our customers. 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.”

The new CEO will take over on April 1, 2016. Dr Scott will continue to provide support to the company and to the USTER management in future as a member of the Board of Directors.

New CEO: in-house appointee with textile industry background
As Head of Textile Technology and a member of the Executive Board, Thomas Nasiou has extensive experience of the textile industry, with USTER’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.

“This background makes him uniquely qualified to take the next step as CEO”, says Dr Scott: “Thomas Nasiou’s deep textile expertise, knowledge and commitment to USTER and its long term strategy will ensure continuity and stability of the USTER business.”

From 1995 until 2006, Thomas Nasiou worked as a mill manager and head of quality control at Selected Textiles SA, 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 diverse skillset was the foundation of his expertise in quality-minded spinning.

Nasiou joined USTER in 2006 as a Textile Technologist. In 2011, he was promoted to Head of Textile Technology and became a member of the USTER Executive Board. In 2014, he became member of the Spinners’ Committee of the International Textile Machinery Federation.

Thomas Nasiou holds an MBA from H.M.A. (Hellenic Management Association) in Larissa, Greece. “Learning is important for me. That means learning from the customers, our collaborators and our colleagues“, he says. “Only by applying that knowledge can I help our company to remain focused on ‘Think Quality’ and remain successful developing solutions that create value”.

Thomas Nasiou was born in 1970 and is a Greek citizen. He has lived in Switzerland since 2006, is married and has two children.

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.