Siemens Vice President Roland Busch succeeds outgoing CEO Joe Kaeser. As the Dax group announced, Busch should be appointed at the latest on February 3, 2021 at the Annual General Meeting. Kaeser has informed the Supervisory Board that it is not seeking to extend its mandate, which runs until early 2021. The 62-year-old is to be the chairman of the supervisory board of the energy business called Siemens Energy.

"Roland Busch will already be responsible for the budget planning for the 2021 financial year and its implementation, and will take over all relevant areas of responsibility on the Board of Management from October 1, 2020," the statement said. Busch was appointed Kaeser's Vice in October 2019 and has been the successor ever since. The Supervisory Board had originally announced that it would decide on personnel in the summer.

The designated chief executive of Siemens Energy, Michael Sen, as well as CFO Klaus Patzak are leaving the company "by mutual agreement", said the Munich-based industrial group. Linde manager Christian Bruch takes over the chief position at Siemens Energy.

Siemens is currently in a phase of change. The group plans to list its energy business as Siemens Energy in the course of the year.