Siemens AG appoints new president and CEO to its financial director, Joe Kaeser

Since this month of August, Joe Kaeser, CFO of Siemens AG since 2006, is the new president and CEO of the German multinational, replacing Peter Löscher who had held this responsibility since 2007.

Siemens AG has renewed its management structure with the appointment of Joe Kaeser as the new president and CEO of the technology multinational, until now its financial director; a decision unanimously approved by the company's supervisory board.

Of 56 years old, Kaeser will maintain the culture of integrity established in the company by his predecessor, and considered a world leader in the technology sector, as the members of the supervisory board have recognized and thanked: “Peter Löscher restored Siemens' high reputation and helped achieve important successes. Under his leadership, “Siemens has experienced two of the most successful years in its history”.

In his speech as new president and CEO Kaeser was forceful: “our company, definitely, is not in crisis, nor is it true that it needs a major restructuring. I declare that my goal is to return Siemens to its balance and create a high-performance team. for autumn, The Siemens team will provide information on the future development of the company's program and facilitate the company's medium-term vision. You will see it: There will be a Siemens after 2014”.

For your part, Peter Löscher will continue to collaborate with the company until the next 30 September, and will continue to be associated with Siemens AG as Chairman of the Board of Trustees of the Siemens Stiftung.