Siemens’ supervisory board plans to accelerate its tech transition by expanding the management board from five to seven members.
Siemens announced Peter Koerte and Veronika Bienert will join the board on Oct. 1; Jim Hagemann Snabe will seek reelection in February.
“We have the right strategy. However, a company with 324,000 employees and 80 billion euros in revenue can benefit from a larger board,” Snabe, who has been Siemens’ chairman since 2018 and a board member since October 2013
“I want to accompany the newly formed board for another two years to accelerate growth,” he added.
Snabe stated that Siemens focuses on AI to lead in the industry, aiming to outpace competitors.
“This is a significant opportunity for Siemens, but not easy for a company of this size,” he said, adding that Koerte would play a crucial role in this effort.
Siemens announced that Cedrik Neike’s management board contract, impacted by weak Chinese demand, will be extended by five years.
Snabe said Bienert, 51, could be a strong candidate to succeed CFO Ralf Thomas, though it’s too early to discuss.
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