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Technology Group: Roland Busch becomes deputy Siemens CEO

2019-09-18T20:20:33.427Z

Board member Roland Busch becomes Vice President of Siemens. This increases his chances to replace Joe Kaeser as CEO later.


The Supervisory Board of the technology company Siemens has appointed the Executive Board Member Roland Busch as Deputy CEO. Busch should take up the position already on 1 October. In addition, the Supervisory Board will decide next summer on Siemens CEO Joe Kaesers succession. The company announced on Wednesday after market close. Kaesers contract expires in late 2021. Bush could replace Kaeser but already in the coming year, if he proves his worth until then, reported Reuters, citing the Supervisory Board circles.

"Roland Busch's appointment as Deputy Chairman of the Management Board underscores the importance of Industrial Digitization of the Company for the next generation," said Superintendent Jim Hagemann Snabe. As of December 1, Busch will also be hired by the Group and will be responsible for the implementation of the new corporate strategy. As Labor Director, he succeeds Janina Kugel, whose contract expires at the beginning of next year.

Busch is 54 years old and has been on the Siemens Board since 2011. Among other things, he is responsible for day-to-day business, technology and corporate development.

Focus on the digital business

In addition, the 50-year-old Michael Sen co-head of the energy division will be on the side of the former boss Lisa Davis. After the Siemens AGM 2020, Sen will take over their posts. Davis did not want to renew their contract according to the group for personal reasons. So far, Siemens has been responsible for the already publicly traded subsidiaries Siemens Healthineers and Siemens Gamesa on the Siemens Executive Board.

Siemens wants to bring the energy sector Gas & Power on the stock market in September 2020. According to previous information, Siemens wants to surrender the majority of the new company, but remain an anchor shareholder. The share should initially be slightly less than 50 percent and not lower than the blocking minority. This separates Siemens from an integral part of its former core business. Gas & Power comprises the Siemens business in the oil and gas, conventional energy generation, energy transmission and related service businesses.

In addition, Siemens wants to bring its share of 59 percent in the wind turbine manufacturer Siemens Gamesa in the new company. The Group also plans to cease to fully include both Gas & Power and Siemens Gamesa in its consolidated figures. With the separation of the ranges Siemens wants to concentrate on the growth-stronger digital business.

Source: zeit

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