Siemens Expands Management Board With Two Hires

By Michael Susin

Siemens hired two more executives to its managing board and said it would propose to extend the contract of the supervisory board chair.

The German industrial giant said it appointed Peter Koerte as member of the managing board, and also chief technology and chief strategy officer with responsibility for Siemens Xcelerator and Siemens Advanta.

The company named Veronika Bienert as a member of the board and chief executive of Siemens Financial Services. She will be responsible for the service portfolio of Siemens Real Estate and Global Business Services.

Both executives will start in their roles from Oct. 1, Siemens said on Wednesday. The group's managing board currently has five members.

The company added that Cedrik Neike, member of the board and CEO of Digital Industries, received a five-year contract extension, effective from June 1 next year.

Siemens is also proposing to extend Jim Hagemann Snabe's role as chair of the supervisory board for two years, starting from February.

The appointments follow the five-year extension of President and Chief Executive Roland Busch's contract earlier this year, it added.

Siemens is due to report third-quarter results on Thursday.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

August 07, 2024 11:59 ET (15:59 GMT)

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