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Peter Löscher, 49, takes over as President and
Chief Executive Officer (CEO) of Siemens as of
July 1, 2007. “It’s a great pleasure and honor
for me to lead Siemens as its CEO. Together with
the well more than 400,000 employees, I would
like to achieve a great deal in the coming
years. In the past weeks, I have been
intensively preparing myself for this
assignment,” said Löscher, who is succeeding
Klaus Kleinfeld, 49, as CEO. “I leave with many
fond memories of the people who make Siemens
such a great company. I hope that the success of
Siemens’ employees will continue and wish my
successor in particular all the best on this
road,” said Kleinfeld, who became CEO on January
27, 2005.
“I thank Klaus Kleinfeld for his
tireless dedication to the company. Most
notably, he laid the foundation for today’s
business success with his strategic realignment
of the company. Now, I look forward to working
with Peter Löscher, who can build on this strong
base,” said the Chairman of the Supervisory
Board, Gerhard Cromme. Furthermore, he
emphasized that one of the most important tasks
for the CEO will be to continue to press ahead
with the job of clearing up the current
corruption cases and with further developing the
compliance organization and internal control
mechanisms.
Klaus Kleinfeld was the 11th CEO
in the 160-year history of Siemens. Under his
leadership, the companywide program “Fit4More”
was launched in April 2005. As a result of this
program, all Groups for the first time reached
or exceeded their set target margins in the
spring of 2007. Furthermore, during his tenure
important strategic expansions of Siemens’
business activities were achieved and the
Information and Communications (I&C) business
area was realigned. Since the beginning of 2005,
the value of the company increased more than
fifty percent from roughly €60 billion to about
€95 billion. In April 2007, Kleinfeld announced
that he would not make himself available for his
contract renewal.
Klaus Kleinfeld worked at
Siemens for about 20 years and transformed,
among other things, Siemens Management
Consulting into an effective partner for the
global businesses. Furthermore, he was a member
of the Group Executive Management of the Medical
Solutions Group. As CEO of Siemens’ regional
business in the U.S., he contributed
significantly to the profitable turnaround of
the business there within two years. After
studying economics in Vienna, Hong Kong and at
Harvard Business School, Peter Löscher began his
professional career at the German management
consultants Kienbaum & Partner. He was active in
a variety of functions at Hoechst and Aventis in
Germany, the U.S., Spain, Great Britain and
Japan. In 2002, he moved to the UK healthcare
technology company Amersham and following its
acquisition by General Electric joined the GE
Corporate Executive Council. Since 2006, he was
member of the Executive Committee at Merck & Co.
in the U.S., one of the world’s leading American
pharmaceutical companies. CVs as well as photos
of Peter Löscher and Klaus Kleinfeld are
available at
www.siemens.com/press.
Siemens AG (Berlin and
Munich) is a global powerhouse in electrical
engineering and electronics. The company has
around 475,000 employees (incl. discontinued
operations) working to develop and manufacture
products, design and install complex systems and
projects, and tailor a wide range of services
for individual requirements. Siemens provides
innovative technologies and comprehensive
know-how to benefit customers in over 190
countries. Founded more than 155 years ago, the
company focuses on the areas of Information and
Communications, Automation and Control, Power,
Transportation, Medical, and Lighting. In fiscal
2006 (ended September 30), Siemens had sales of
€87.3 billion and net income of €3.033 billion,
according to U.S. GAAP. Further information is
available on the Internet at:
www.siemens.com
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