Munich (dpa) - The timing of the change of leadership at Siemens is cemented. The long-time CEO Joe Kaeser will hand over the baton to Roland Busch at the end of the general meeting in February, as the technology group's supervisory board decided.

However, as already known, Busch will take over responsibility for the business activities and thus the financial year 2021 on October 1, 2020, as Siemens announced. Joe Kaeser will accompany the transition “actively”.

In addition, the remaining course was set for the new board team. The long-standing board member Klaus Helmrich, most recently responsible for the business with the digital industry, will retire at the end of March 2021 after the end of his contract, it was said. His successor will be Cedrik Neike, currently a board member for the intelligent infrastructure segment, on October 1, 2020. Helmrich also stands by Neike until the end of his contract, as it was said.

According to the information, Neikes takes over Matthias Rebellius, who is currently responsible for the operational business in the division's management. Rebellius has now been appointed to the Group's Executive Board and has been given a five-year contract.

This completes the new Siemens board. The group had already found a new head of HR in Judith Wiese in mid-July, which will also start on October 1. Ralf Thomas remains CFO. This means that Siemens has also prepared itself for the ongoing realignment. The company wants to focus more on digitization in the future. In recent years, Kaeser has therefore made a number of areas self-employed. Siemens merged the wind turbine business with the Spanish competitor Gamesa and brought the medical technology to the stock exchange under the name Healthineers. The spin-off of the Siemens Energy energy business, which will also be listed on the stock exchange from the end of November, is currently ongoing.

There are also other spin-off plans. The drive subsidiary Flender is to be spun off and listed on the stock exchange. The company's products are used in wind turbines and numerous other industrial sectors. The strategic review of the train division remains open after the merger with French competitor Alstom failed last year due to the veto of the European competition watchdogs.

The new board must also manage the economic consequences of the corona pandemic. For example, the company recently suffered significant losses, especially in digital business. It is said to have bottomed out in the third quarter. Siemens will present the figures on Thursday.

© dpa-infocom, dpa: 200805-99-56541 / 2