2024-04-10 05:39:19
The supervisory board is apparently satisfied with the work of the CEO. Roland Busch will manage the business for another five years.
Roland Busch remains CEO of the technology group Siemens. The supervisory board announced the extension of the contract by five years to April 1, 2025, as Siemens announced on Tuesday in Munich. In addition, it is planned to extend the mandate of board member Cedrik Neike by five years in June 2025, when the current contract expires. Neike heads the Digital Industries division.
The general works council welcomed the extensions. Siemens is on the right track with the digital and sustainable transformation that combines hardware and software, said GBR chairwoman Birgit Steinborn. She assumes that Busch will continue the constructive social partnership with the employee representatives.
Busch has been at the top of the company for three years
The 59-year-old Busch has been running the company alone for a good three years. He would be 65 years old when his new contract expires. “This decision is a sign of support for Siemens’ strategy as a leading technology company and for the incumbent Board of Directors, under whose leadership record financial results were achieved for three years in a row and the company was further developed strategically,” said the company statement.
Siemens supervisory board chairman Jim Hagemann Snabe could also stay with the Munich technology group for longer. “At the 2025 general meeting I will be on the supervisory board for eleven and a half years. So I could extend again, not for four years, but maybe for one or two years if necessary,” Snabe told Reuters.
The 58-year-old Dane is elected until 2025. He had previously left his future open because after twelve years on the supervisory board he was no longer considered independent. “It is important that in this phase you have a chairman of the supervisory board who will accelerate the development into a technology company,” said former SAP boss Snabe. “Regardless of this, we are of course looking for my successor.”