Schindler Lobbies to Make Executives Pay Cartel Fines, HZ Says

Schindler Holding AG (SCHP) is lobbying the Swiss government to make managers responsible for cartel fines by revising a law, Handelszeitung reported, citing an interview with Schindler general counsel Karl Hofstetter.

Schindler was fined 144 million euros ($181 million) in 2007 when it and three other elevator-makers were penalised by the European Union for cartel activity in Belgium, Germany, Luxembourg and The Netherlands.

To contact the reporter on this story: Patrick Winters in Zurich at pwinters3@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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