Joe Kaeser, President and Chief Executive Officer of Siemens AG. August 01, 2013 Courtesy of Siemens press pictures

Munich, Germany - August 01, 2013

• Joe Kaeser designated new President and CEO

• Peter Löscher resigns position by mutual consent

Joe Kaeser (56), Chief Financial Officer (CFO) of Siemens AG since 2006, has been designated the new President and CEO of Siemens AG, effective August 1, 2013.

A new CFO will be appointed very shortly.

The current CEO Peter Löscher will resign his position at the end of the day today and leave the Managing Board of Siemens AG by mutual consent.

These changes were unanimously approved by the Supervisory Board of Siemens AG at its meeting today.

The Supervisory Board looks back on Peter Löscher's achievements as President and CEO of Siemens AG with great respect.

At press conference of Siemens AG in Munich on July 31, 2013: Joe Kaeser, new president and CEO of Siemens AG, effective August 1, 2013. Courtesy of Siemens press pictures

Mr. Löscher took office on July 1, 2007.

With great energy and commitment, he established a culture of integrity at Siemens that is today considered a model of its kind worldwide.

Under his leadership, the company achieved a substantially higher level of performance and profitability, improved its position in the emerging countries and focused its portfolio.

Dr. Gerhard Cromme, Chairman of the Supervisory Board of Siemens AG, thanked Peter Löscher for his great commitment and many services in the management and representation of the company.

Confronted first with the compliance crisis and then with the global financial and debt crisis, Löscher led the company successfully in very challenging times.

Joe Kaeser, President and Chief Executive Officer of Siemens AG. August 01, 2013 Courtesy of Siemens press pictures

"Peter Löscher restored Siemens' high reputation and helped it achieve a series of impressive successes. Under his leadership, Siemens experienced two of the most successful years in its history. Both on its own behalf and on that of all Siemens employees, the Supervisory Board would like to thank Mr. Löscher for his services to the company," said Dr. Gerhard Cromme.

Peter Löscher will continue to assist the company in the processing of open topics until September 30, 2013.

He will also remain associated with Siemens AG and perform a number of duties – for example, chairing the Board of Trustees of the Siemens Stiftung – at the request and in the interest of the company.

Peter Löscher. Former President and CEO of Siemens AG. August 01, 2013 Courtesy of Siemens press pictures

"It would be fatal for the future of Siemens and its employees if the successful course we've adopted in order to reorient the company, the clarification of past errors, the return to profitable growth and the establishment of a new company culture were called into question by a loss of mutual trust. The interests of individuals – including my own – must take second place to the well-being of Siemens as a whole," explained Peter Löscher.

Joe Kaeser will succeed Peter Löscher as President and CEO of Siemens.

Joe Kaeser, President and Chief Executive Officer of Siemens AG. August 01, 2013 Courtesy of Siemens press pictures

"Our company is certainly not in crisis, nor is it in need of major restructuring. However, we've been too preoccupied with ourselves lately and have lost some of our profit momentum vis-à-vis our competitors. My declared aim is to put Siemens back on an even keel and create a high-performance team. Because as a team we're hard to beat. By the fall, the Siemens Team will provide information on the further refinement of our company program and address the medium-term prospects and our vision for the company. You'll see: there'll also be a Siemens after 2014," said Joe Kaeser.

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Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the fields of industry, energy and healthcare as well as providing infrastructure solutions, primarily for cities and metropolitan areas.

For over 165 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality.

The company is the world's largest provider of environmental technologies.

Around 40 percent of its total revenue stems from green products and solutions.

In fiscal 2012, which ended on September 30, 2012, revenue from continuing operations totaled €78.5 billion and income from continuing operations €4.7 billion (incl. IAS 19R and reclassification of the solar business into continuing operations).

At the end of September 2012, Siemens had around 370,000 employees worldwide on the basis of continuing operations.

Further information is available on the Internet
at: http://www.siemens.com  


Contact

Mr. Oliver Santen
Siemens AG
Wittelsbacherplatz 2
80333 Munich
Germany
Tel: 49 (89) 636-36669
oliver.santen@siemens.com  



Joe Kaeser

President and Chief Executive Officer of Siemens AG

Joe Kaeser, President and Chief Executive Officer of Siemens AG. August 01, 2013 Courtesy of Siemens press pictures

Born on June 23, 1957 in Arnbruck, Germany


Education

Studied business administration
Dipl.-Betriebswirt

Professional history

1980
Joined Siemens AG, Components Group
- Discrete Components Division. Head of Business Administration
- Semiconductor Plant, Regensburg, Germany. Finance Director
- Semiconductors Group. Head of Accounting & Product Planning
1987
Siemens Semiconductors, Malacca, Malaysia
- Head of Business Administration Projects
1988
Siemens AG, Semiconductors Group
- Discrete Semiconductors Division. Head of Business Administration
1990
Opto Semiconductors Division
- Head of Business Administration
1995
Siemens Microelectronics Inc., San José, CA, USA
- Executive Vice President and Chief Financial Officer
1999
Siemens AG, Corporate Finance. Accounting Unit. Controlling and Taxes
April 2001
Member of the Group Executive Management of the Information and Communication Mobile Group
October 2004
Chief Strategy Officer of Siemens AG
May 2006
Member of the Managing Board of Siemens AG
Chief Financial Officer
August 2013
President and Chief Executive Officer of Siemens AG

External positions

Allianz Deutschland AG
Nokia Siemens Networks
Bosch Siemens Hausgeräte GmbH (Chairman)
NXP Semiconductors N.V.


Source: Siemens AG

http://www.siemens.com/press/  



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