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Siemens Announces New CEO, Corporate Structure
July 26, 2004 |Estimated reading time: Less than a minute
Frankfurt, Germany — Siemens AG, Germany's largest technology company, announces major changes to its management and corporate structure.
Most notably, it proposes that 46-year-old Klaus Kleinfeld, former head of Siemens Corp. in New York, replace Heinrich von Pierer as the company's CEO as of January 27, 2005. Siemens' Board of Directors will consider this proposal on July 28.
Von Pierer has served as Siemens' CEO since 1992, and will assume the role of supervisory board chairman once Kleinfeld takes the reins. The company did not give a reason for this move, stating that Siemens has begun a generation change in the company's top management.
The company also announces that it will combine its ICM cell phone and ICN phone network division under one executive, Lothar Pauly. Pauly currently is a member of ICM's management group. The present heads of ICM and ICN, Rudi Lamprecht and Thomas Ganswindt, would be promoted to sit on the management board.
For more details about the proposed changes to Siemens' corporate structure, visit www.siemensenterprise.com/company/news/press_070704.shtml.
This item was compiled from the Associated Press by Contributing Editor Rena Cutchin.