Siemens sets new company structure and reassigns Managing Board responsibilities

Germany, Munich: The Supervisory Board of Siemens AG has approved the company’s new Vision 2020+ strategy and reassigned responsibilities within Siemens’ Managing Board.

Vision 2020+ sets a simplified and leaner company structure whose goal is to provide the company with more entrepreneurial freedom and less centralized governance, the company said in the press statement.

Below the Group level, there will be three Operating Companies and three Strategic Companies.

The current company Divisions will be eliminated and combined to form the three Operating Companies, which will include: Gas and Power (GP), headquartered in Houston, Texas; Smart Infrastructure (SI), headquartered in Zug, Switzerland; and Digital Industries (DI), headquartered in Nuremberg, Germany.

Three Strategic Companies will include Siemens Healthineers, Siemens Gamesa Renewable Energy and the planned company Siemens Alstom.

The new structure will go into effect at the start of the new fiscal year on October 1, 2018.

Effective October 1, 2018, responsibilities within the Managing Board will be as follows:

Joe Kaeser: President and CEO; Corporate Countries USA, China; Governance & Markets, Communications, Legal & Compliance
Roland Busch: CEO; Strategic Company Siemens Alstom (subject to regulatory approval); Corporate Development
Lisa Davis: CEO; Operating Company Gas and Power
Klaus Helmrich: CEO; Operating Company Digital Industries; Corporate Country Germany
Cedrik Neike: CEO; Operating Company Smart Infrastructure; Corporate Country India
Michael Sen: Strategic Companies Siemens Healthineers, Siemens Gamesa Renewable Energy; Global Business Services
Ralf P. Thomas: CFO; Service Companies
Janina Kugel: Human Resources

Source: Siemens

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