BERLIN (dpa-AFX) - Siemens said that its President and Chief Executive Officer Joe Kaeser will not be pursuing an extension of his mandate. He will be proposed as Chairman of the Supervisory Board of Siemens Energy.
The company has appointed Roland Busch to be President and CEO of Siemens AG. At the latest, this appointment is to be effective at the end of the next ordinary Annual Shareholders' meeting, which is to take place on February 3, 2021. He is receiving a new contract for five years, effective April 1, 2020.
Roland Busch will already be responsible for the planning and implementation of the budget for fiscal 2021 and will be assuming all relevant responsibilities within the Managing Board. In addition to his current duties, he will - effective April 1, 2020 - also already be responsible for the overarching integration and management of the businesses of the future Siemens AG within the Siemens Managing Board.
Effective immediately, Joe Kaeser will, in addition to his current duties, assume responsibility within the Managing Board for Siemens Energy, including Siemens Gamesa Renewable Energy.
Christian Bruch, who is Executive Vice President of Linde plc and CEO of Linde Engineering, has been appointed to be the new CEO of the Gas and Power Operating Company and designated CEO of Siemens Energy, effective May 1, 2020. Effective the same day, Maria Ferraro has been appointed to be new CFO of Gas and Power and designated CFO of Siemens Energy.
Michael Sen and Klaus Patzak are leaving the company by mutual agreement. Spinoff and public listing of Siemens Energy at end of September 2020 are on schedule and pursued without change.
Copyright RTT News/dpa-AFX
© 2020 AFX News
