![](https://news.europawire.eu/wp-content/uploads/2021/02/Joe-Kaeser-580x386.jpg)
Leadership change at Siemens AG: long-serving President and CEO Joe Kaeser to step down after more than 40 years at the company
- Annual Shareholders’ Meeting in virtual format due to corona pandemic
- Siemens bids farewell to Joe Kaeser after more than 40 years at the company
- Total shareholder return more than doubled since Kaeser took office in 2013
- Roland Busch new President and CEO of Siemens AG
- Jim Hagemann Snabe to stand for reelection for another four years and again assume Supervisory Board chairmanship
- Grazia Vittadini (Airbus) and Kasper Rørsted (adidas) nominated for election to Supervisory Board
(PRESS RELEASE) MUNICH, 3-Feb-2021 — /EuropaWire/ — Siemens AG, a global technology powerhouse with more than 170 years of successful history, has announced that its long-serving President and CEO Joe Kaeser (63) will be succeeded by Roland Busch (56). Joe Kaeser, who spent more than 40 years with the company will step down today at the Annual Shareholders’ Meeting of Siemens AG. As long planned, leadership of the Munich-based technology company will be transferred from Kaeser to his successor, Roland Busch (56) – a step that will mark the successful completion of Siemens’ leadership succession process. Due to the COVID-19 pandemic, the shareholders’ meeting is being held exclusively in a virtual format, in which neither shareholders nor their proxies will be present in person.
“Today, Siemens is bidding farewell to one of its greatest leaders. Joe Kaeser has shaped the company like few others and left behind a strong foundation for future generations. It’s certainly no exaggeration to say: Joe Kaeser’s departure marks the end of an era. At the same time, the next phase in Siemens’ transformation is beginning,” said Jim Hagemann Snabe (55), Chairman of the Supervisory Board of Siemens AG.
Snabe also praised Kaeser’s successor, who has worked for the Siemens Group since 1994, most recently as Chief Operating Officer, Chief Technology Officer and Deputy CEO: “In all his roles, Roland Busch has delivered impressive performance characterized by strategic wisdom and operating successes. Roland Busch is the ideal choice to further drive the transformation of Siemens AG,” said the Supervisory Board Chairman. “Roland Busch has the Supervisory Board’s full support for his plans for the next phase of Siemens’ development. The entire Supervisory Board wishes him all the best in his new role as President and CEO and is very much looking forward to working together with him!”
“When I took office as President and CEO, I publicly stated: ‘I personally vouch for making sure that the next generation inherits a better company. This is my responsibility. This is my promise.’ The time has now come to transfer the company to the next generation,” said outgoing President and CEO Joe Kaeser. “In an age of rapid technological transformation, the new Siemens AG needs a person at its helm who has a profound grasp of digital technologies and a high level of implementation competence. For me, that person is Roland Busch,” added Kaeser.
“It is with a great sense of responsibility and humility that I take on this role – and I’m very much looking forward to leading Siemens into the future with an outstanding team at my side. I’m very grateful to the members of the Supervisory Board for the trust they’ve placed in me. Our company now stands at the threshold of a decade of opportunities. Together with our customers, we want to lead industry, infrastructure, transportation and healthcare into the digital age – and thereby transform the everyday for billions of people. By pursuing clear strategic priorities, we’ll transform Siemens into a focused technology company that delivers sustainable growth,” said Roland Busch.
Value of an investment in Siemens more than doubled during Kaeser’s tenure
Joe Kaeser has worked for Siemens for more than 40 years and headed the company as President and CEO for the past seven. During this period, he has renewed and shaped the company from the ground up. His first major strategic step was Vision 2020. By executing this strategy concept, Siemens strengthened its competitiveness and returned to a position of market leadership.
With Vision 2020+, Kaeser and his team then developed a strategy to radically transform the Siemens conglomerate into three powerful and focused companies. Today, the Siemens ecosystem comprises Siemens AG, Siemens Healthineers and Siemens Energy. All three companies are poised for ultimate value creation because they now have the optimal capabilities for focusing on the specific requirements of their markets and reacting quickly to changes. Siemens AG itself is now more focused, more adaptable and stronger than ever.
Shareholders have approved this strategy and benefited from it directly: between July 2013 and January 25, 2021, the value of an investment in Siemens AG more than doubled. Total shareholder return amounted to more than 136 percent. During the same period, Germany’s DAX-30 stock index totaled only 64 percent. In addition, Siemens Healthineers has increased in value from €28 billion to nearly €50 billion and Siemens Energy from around €16 billion to €24 billion since their respective public listings. During Kaeser’s tenure, Siemens very significantly improved its Adjusted EBITA-Margin (Industrial Businesses) to, most recently, 14.3 percent (fiscal 2020).
Kaeser, as President and CEO, and Busch, as the member of the Managing Board with responsibility for R&D and Chief Sustainability Officer, enhanced Siemens’ ability to innovate for the long term by making targeted investments in forward-looking fields such as the digital factory, distributed infrastructure solutions and rail automation. The company invested a total of €4.6 billion in research and development in fiscal 2020 – an increase of about one-third compared to 2013. They also strengthened the technology company’s sustainability. Even before the signing of the Paris Agreement in 2015, Siemens was the first major industrial company to pledge to achieve carbon neutrality by 2030. Since 2014, Siemens has slashed its own emissions by more than 54 percent.
The acquisition of Varian, the global market leader in cancer therapy, by Siemens Healthineers has a transformational character in the battle against cancer and, with a value of US$16 billion, is the largest acquisition in the company’s history.
New Managing Board team for the next chapter of Siemens AG
Busch, Kaeser’s successor, is known, among other things, for his profound grasp of technology, his entrepreneurial successes and his team-oriented approach. During his career, Busch – who was born in Erlangen, Germany – has gained international experience in a variety of key positions. Among other things, he has served as head of Siemens’ Strategy and as a member of the Managing Board with responsibility for businesses such as rail systems and building technology and for markets such as Asia and the Middle East. Most recently, Busch was Chief Technology Officer and, for a time, Labor Director, Chief Operating Officer and Deputy CEO.
The new management team under Busch’s leadership comprises Ralf P. Thomas (Chief Financial Officer), Judith Wiese (Chief Human Resources Officer), Cedrik Neike (Digital Industries) and Matthias Rebellius (Smart Infrastructure).
At today’s Annual Shareholders’ Meeting, shareholders are to decide, among other things, on the election of two new Supervisory Board members: Grazia Vittadini (51), Chief Technology Officer of Airbus and member of the Airbus Executive Committee, and Kasper Rørsted (58), CEO of adidas AG. In addition, Jim Hagemann Snabe will be proposed for reelection for another four years since his current term of office also ends at the conclusion of the Annual Shareholders’ Meeting. Snabe will then stand for reelection as Chairman of the Supervisory Board.
In addition, the Annual Shareholders’ Meeting will, among other things, vote on the dividend for fiscal 2020. The Managing and Supervisory Boards are proposing to the Annual Shareholders’ Meeting that a dividend of €3.50 per share be distributed for fiscal 2020. Adjusted by ten percent to account for the market value of the spin-off of Siemens Energy, this amount is at the same level as the €3.90 distributed for fiscal 2019.
Detailed voting results on the individual agenda items at the Annual Shareholders’ Meeting are available at www.siemens.com/AGM.
Media contacts:
Florian Martens
Siemens AG
+49 89 636-22804
florian.martens@siemens.com
Dr. Simon Friedle
Siemens AG
+49 89 636-20012
simon.friedle@siemens.com
SOURCE: Siemens
- Astor Asset Management 3 Ltd: Salinas Pliego Incumple Préstamo de $110 Millones USD y Viola Regulaciones Mexicanas
- Astor Asset Management 3 Ltd: Salinas Pliego Verstößt gegen Darlehensvertrag über 110 Mio. USD und Mexikanische Wertpapiergesetze
- ChargeEuropa zamyka rundę finansowania, której przewodził fundusz Shift4Good tym samym dokonując historycznej francuskiej inwestycji w polski sektor elektromobilności
- Strengthening EU Protections: Robert Szustkowski calls for safeguarding EU citizens’ rights to dignity
- Digi Communications NV announces the release of H1 2024 Financial Results
- Digi Communications N.V. announces that conditional stock options were granted to a director of the Company’s Romanian Subsidiary
- Digi Communications N.V. announces Investors Call for the presentation of the H1 2024 Financial Results
- Digi Communications N.V. announces the conclusion of a share purchase agreement by its subsidiary in Portugal
- Digi Communications N.V. Announces Rating Assigned by Fitch Ratings to Digi Communications N.V.
- Digi Communications N.V. announces significant agreements concluded by the Company’s subsidiaries in Spain
- SGW Global Appoints Telcomdis as the Official European Distributor for Motorola Nursery and Motorola Sound Products
- Digi Communications N.V. announces the availability of the instruction regarding the payment of share dividend for the 2023 financial year
- Digi Communications N.V. announces the exercise of conditional share options by the executive directors of the Company, for the year 2023, as approved by the Company’s Ordinary General Shareholders’ Meetings from 18th May 2021 and 28th December 2022
- Digi Communications N.V. announces the granting of conditional stock options to Executive Directors of the Company based on the general shareholders’ meeting approval from 25 June 2024
- Digi Communications N.V. announces the OGMS resolutions and the availability of the approved 2023 Annual Report
- Czech Composer Tatiana Mikova Presents Her String Quartet ‘In Modo Lidico’ at Carnegie Hall
- SWIFTT: A Copernicus-based forest management tool to map, mitigate, and prevent the main threats to EU forests
- WickedBet Unveils Exciting Euro 2024 Promotion with Boosted Odds
- Museum of Unrest: a new space for activism, art and design
- Digi Communications N.V. announces the conclusion of a Senior Facility Agreement by companies within Digi Group
- Digi Communications N.V. announces the agreements concluded by Digi Romania (formerly named RCS & RDS S.A.), the Romanian subsidiary of the Company
- Green Light for Henri Hotel, Restaurants and Shops in the “Alter Fischereihafen” (Old Fishing Port) in Cuxhaven, opening Summer 2026
- Digi Communications N.V. reports consolidated revenues and other income of EUR 447 million, adjusted EBITDA (excluding IFRS 16) of EUR 140 million for Q1 2024
- Digi Communications announces the conclusion of Facilities Agreements by companies from Digi Group
- Digi Communications N.V. Announces the convocation of the Company’s general shareholders meeting for 25 June 2024 for the approval of, among others, the 2023 Annual Report
- Digi Communications NV announces Investors Call for the presentation of the Q1 2024 Financial Results
- Digi Communications intends to propose to shareholders the distribution of dividends for the fiscal year 2023 at the upcoming General Meeting of Shareholders, which shall take place in June 2024
- Digi Communications N.V. announces the availability of the Romanian version of the 2023 Annual Report
- Digi Communications N.V. announces the availability of the 2023 Annual Report
- International Airlines Group adopts Airline Economics by Skailark ↗️
- BevZero Spain Enhances Sustainability Efforts with Installation of Solar Panels at Production Facility
- Digi Communications N.V. announces share transaction made by an Executive Director of the Company with class B shares
- BevZero South Africa Achieves FSSC 22000 Food Safety Certification
- Digi Communications N.V.: Digi Spain Enters Agreement to Sell FTTH Network to International Investors for Up to EUR 750 Million
- Patients as Partners® Europe Announces the Launch of 8th Annual Meeting with 2024 Keynotes and Topics
- driveMybox continues its international expansion: Hungary as a new strategic location
- Monesave introduces Socialised budgeting: Meet the app quietly revolutionising how users budget
- Digi Communications NV announces the release of the 2023 Preliminary Financial Results
- Digi Communications NV announces Investors Call for the presentation of the 2023 Preliminary Financial Results
- Lensa, един от най-ценените търговци на оптика в Румъния, пристига в България. Първият шоурум е открит в София
- Criando o futuro: desenvolvimento da AENO no mercado de consumo em Portugal
- Digi Communications N.V. Announces the release of the Financial Calendar for 2024
- Customer Data Platform Industry Attracts New Participants: CDP Institute Report
- eCarsTrade annonce Dirk Van Roost au poste de Directeur Administratif et Financier: une décision stratégique pour la croissance à venir
- BevZero Announces Strategic Partnership with TOMSA Desil to Distribute equipment for sustainability in the wine industry, as well as the development of Next-Gen Dealcoholization technology
- Digi Communications N.V. announces share transaction made by a Non-Executive Director of the Company with class B shares
- Digi Spain Telecom, the subsidiary of Digi Communications NV in Spain, has concluded a spectrum transfer agreement for the purchase of spectrum licenses
- Эксперт по торговле акциями Сергей Левин запускает онлайн-мастер-класс по торговле сырьевыми товарами и хеджированию
- Digi Communications N.V. announces the conclusion by Company’s Portuguese subsidiary of a framework agreement for spectrum usage rights
- North Texas Couple Completes Dream Purchase of Ouray’s Iconic Beaumont Hotel
- Предприниматель и филантроп Михаил Пелег подчеркнул важность саммита ООН по Целям устойчивого развития 2023 года в Нью-Йорке
- Digi Communications NV announces the release of the Q3 2023 Financial Results
- IQ Biozoom Innovates Non-Invasive Self-Testing, Empowering People to Self-Monitor with Laboratory Precision at Home
- BevZero Introduces Energy Saving Tank Insulation System to Europe under name “BevClad”
- Motorvision Group reduces localization costs using AI dubbing thanks to partnering with Dubformer
- Digi Communications NV Announces Investors Call for the Q3 2023 Financial Results
- Jifiti Granted Electronic Money Institution (EMI) License in Europe
- Предприниматель Михаил Пелег выступил в защиту образования и грамотности на мероприятии ЮНЕСКО, посвящённом Международному дню грамотности
- VRG Components Welcomes New Austrian Independent Agent
- Digi Communications N.V. announces that Digi Spain Telecom S.L.U., its subsidiary in Spain, and abrdn plc have completed the first investment within the transaction having as subject matter the financing of the roll out of a Fibre-to-the-Home (“FTTH”) network in Andalusia, Spain
- Продюсер Михаил Пелег, как сообщается, работает над новым сериалом с участием крупной голливудской актрисы
- Double digit growth in global hospitality industry for Q4 2023
- ITC Deploys Traffic Management Solution in Peachtree Corners, Launches into United States Market
- Cyviz onthult nieuwe TEMPEST dynamische controlekamer in Benelux, Nederland
- EU-Funded CommuniCity Launches its Second Open Call
- Astrologia pode dar pistas sobre a separação de Sophie Turner e Joe Jonas
- La astrología puede señalar las razones de la separación de Sophie Turner y Joe Jonas
- Empowering Europe against infectious diseases: innovative framework to tackle climate-driven health risks
- Montachem International Enters Compostable Materials Market with Seaweed Resins Company Loliware
- Digi Communications N.V. announces that its Belgian affiliated companies are moving ahead with their operations
- Digi Communications N.V. announces the exercise of conditional share options by an executive director of the Company, for the year 2022, as approved by the Company’s Ordinary General Shareholders’ Meeting from 18 May 2021
- Digi Communications N.V. announces the availability of the instruction regarding the payment of share dividend for the 2022 financial year
- Digi Communications N.V. announces the availability of the 2022 Annual Report
- Digi Communications N.V. announces the general shareholders’ meeting resolutions from 18 August 2023 approving amongst others, the 2022 Annual Accounts
- Русские эмигранты усиливают призывы «Я хочу, чтобы вы жили» через искусство
- BevZero Introduces State-of-the-Art Mobile Flash Pasteurization Unit to Enhance Non-Alcoholic Beverage Stability at South Africa Facility
- Russian Emigrés Amplify Pleas of “I Want You to Live” through Art
- Digi Communications NV announces the release of H1 2023 Financial Results
- Digi Communications NV Announces Investors Call for the H1 2023 Financial Results
- Digi Communications N.V. announces the convocation of the Company’s general shareholders meeting for 18 August 2023 for the approval of, among others, the 2022 Annual Report
- “Art Is Our Weapon”: Artists in Exile Deploy Their Talents in Support of Peace, Justice for Ukraine
- Digi Communications N.V. announces the availability of the 2022 Annual Financial Report
- “AmsEindShuttle” nuevo servicio de transporte que conecta el aeropuerto de Eindhoven y Ámsterdam
- Un nuovo servizio navetta “AmsEindShuttle” collega l’aeroporto di Eindhoven ad Amsterdam
- Digi Communications N.V. announces the conclusion of an amendment agreement to the Facility Agreement dated 26 July 2021, by the Company’s Spanish subsidiary
- Digi Communications N.V. announces an amendment of the Company’s 2023 financial calendar
- iGulu F1: Brewing Evolution Unleashed
- Почему интерактивная «Карта мира» собрала ключевые антивоенные сообщества россиян по всему миру и становится для них важнейшим инструментом
- Hajj Minister meets EU ambassadors to Saudi Arabia
- Online Organizing Platform “Map of Peace” Emerges as Key Tool for Diaspora Activists
- Digi Communications N.V. announces that conditional stock options were granted to executive directors of the Company based on the general shareholders’ meeting approval from 18 May 2021
- Digi Communications N.V. announces the release of the Q1 2023 financial results
- AMBROSIA – A MULTIPLEXED PLASMO-PHOTONIC BIOSENSING PLATFORM FOR RAPID AND INTELLIGENT SEPSIS DIAGNOSIS AT THE POINT-OF-CARE
- Digi Communications NV announces Investors Call for the Q1 2023 Financial Results presentation
- Digi Communications N.V. announces the amendment of the Company’s 2023 financial calendar
- Digi Communications N.V. announces the conclusion of two Facilities Agreements by the Company’s Romanian subsidiary
- Digi Communications N.V. announces the conclusion of a Senior Facility Agreement by the Company’s Romanian subsidiary
- Patients as Partners Europe Returns to London and Announces Agenda Highlights
- GRETE PROJECT RESULTS PRESENTED TO TEXTILE INDUSTRY STAKEHOLDERS AT INTERNATIONAL CELLULOSE FIBRES CONFERENCE
- Digi Communications N.V. announces Digi Spain Telecom S.L.U., its subsidiary in Spain, entered into an investment agreement with abrdn to finance the roll out of a Fibre-to-the-Home (FTTH) network in Andalusia, Spain
- XSpline SPA / University of Linz (Austria): the first patient has been enrolled in the international multicenter clinical study for the Cardiac Resynchronization Therapy DeliveRy guided by non-Invasive electrical and VEnous anatomy assessment (CRT-DRIVE)
- Franklin Junction Expands Host Kitchen® Network To Europe with Digital Food Hall Pioneer Casper
- Unihertz a dévoilé un nouveau smartphone distinctif, Luna, au MWC 2023 de Barcelone
- Unihertz Brachte ein Neues, Markantes Smartphone, Luna, auf dem MWC 2023 in Barcelona
- Editor's pick archive....