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Money News

Siemens announces changes to managing board

ZURICH (Reuters) - Siemens SIEGn.DE announced changes to its managing board on Wednesday as the German engineering giant prepares for life after Chief Executive Joe Kaeser.

The trains to industrial software maker said company veteran Klaus Helmrich, the current head of its digital industries division, will retire in March next year and be replaced by Cedrik Neike, the current head of Smart Infrastructure, effective from Oct. 1.

Matthias Rebellius, currently the chief operating officer of Smart Infrastructure, will join Siemens’ managing board and take Neike’s role as head of the business which automates buildings.

Siemens also gave details about the handover from Kaeser to deputy Chief Executive Roland Busch replacing Kaeser, a change which has already been announced.

Kaeser, who has led Siemens since 2013, will hand over to Busch after the annual general meeting on February 5 next year. Busch will also be responsible for Siemens 2021 business year, which begins on Oct. 1.

Reporting by John Revill; Editing by Ludwig Burger

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