Siemens AG has selected a new president and CEO after Joe Kaeser, 62, told the company’s supervisory board that he will not seek a contract extension. Roland Busch, 55, becomes Siemens’ new president and CEO, effective (at the latest) at the end of the company’s next ordinary annual shareholders’ meeting, set for Feb. 3, 2021.
Siemens will give Busch, currently the company’s deputy CEO, a new five-year contract, effective April 1. Busch, already responsible for planning and implementing the budget for the fiscal year 2021, will also assume all relevant responsibilities within the managing board and handle integration and management of Siemens’ businesses, such as Smart Infrastructure, Digital Industries and Mobility.
Effective immediately, Joe Kaeser will, in addition to his current duties, assume responsibility within the managing board for Siemens Energy, including Siemens Gamesa Renewable Energy.
Additional management moves also occurred. The Siemens’ supervisory board appointed Christian Bruch as the CEO of the Siemens Gas and Power and designated CEO of Siemens Energy, effective May 1. Tim Holt, the chief operations officer and chief human resources officer of Siemens Gas and Power, will handle the company’s operational management until Bruch assumes it in May.
Siemens also appointed Maria Ferraro, the current CFO of the Siemens Digital Industries, to serve as CFO of Siemens Energy, effective May 1. Michael Sen and Klaus Patzak, Siemens Energy’s CEO and CFO, respectively, will leave the company, with Sen remaining available as an advisor to Busch until spring 2021.
Rudolf Basson, current CFO of Siemens China, becomes the new CFO of Siemens Digital Industries. Bo Ouyang will assume Basson’s former role, while Natalia Oropeza will succeed Ferraro as the chief diversity officer of Siemens AG, as well as retain her current role of chief cybersecurity officer.