- Siemens successfully completes leadership succession: Roland Busch new President and CEO at conclusion of Annual Shareholders’ Meeting
- Emotional farewell to predecessor Joe Kaeser after 40 years at Siemens AG
- Jim Hagemann Snabe reelected for four more years and confirmed as Supervisory Board Chairman
- Shareholders elect Grazia Vittadini and Kasper Rørsted to Supervisory Board
- Shareholders approve dividend proposal of €3.50 per share
Siemens AG has successfully completed the succession process for its top management. As long planned, Roland Busch (56) has succeeded long-serving President and CEO Joe Kaeser (63) as head of the Munich-based technology company. At the company’s virtual Annual Shareholders’ Meeting today, shareholders also confirmed, by a large majority, Supervisory Board Chairman Jim Hagemann Snabe (55) for another four-year term of office. In addition, shareholders elected Grazia Vittadini (51), Chief Technology Officer of Airbus and member of the Airbus Executive Committee, and Kasper Rørsted (58), CEO of adidas AG, first-time Supervisory Board members, likewise by large majorities. Their terms of office will run for four years. The total number of people following the virtual meeting, at which a total of around 350 questions were asked, peaked at 7,100.
- Annual Shareholders’ Meeting in virtual format due to corona pandemic
- Siemens bids farewell to Joe Kaeser after more than 40 years at the company
- Total shareholder return more than doubled since Kaeser took office in 2013
- Roland Busch new President and CEO of Siemens AG
- Jim Hagemann Snabe to stand for reelection for another four years and again assume Supervisory Board chairmanship
- Grazia Vittadini (Airbus) and Kasper Rørsted (adidas) nominated for election to Supervisory Board
The successful term of
office of long-serving President and CEO Joe Kaeser (63) will end today at
the Annual Shareholders’ Meeting of Siemens AG. As long planned, leadership of
the Munich-based technology company will be transferred from Kaeser to his
successor, Roland Busch (56) – a step that will mark the successful completion
of Siemens’ leadership succession process. Due to the COVID-19 pandemic, the
shareholders’ meeting is being held exclusively in a virtual format, in which
neither shareholders nor their proxies will be present in person.
- Digital Industries and Smart Infrastructure delivered sharply higher earnings compared to prior-year quarter
- Significant growth in China
- Detailed business figures for first quarter of fiscal 2021 to follow on February 3, 2021
Following a significantly better-than-expected business
performance, the preliminary operating results for Siemens’ businesses for the first quarter of
fiscal 2021 have exceeded market expectations. Driven by a strong improvement
in the automation business and software business of Digital Industries and
higher-than-expected growth in China, the operating results were substantially
higher year-over-year (yoy).
- Researchers from seven countries recognized for outstanding research
achievements and technologies
- Inventors come from all age groups and
all three Siemens companies
- Capacity for innovation remains high:
23 inventions per workday
- Investments of €4.9 billion in research
and development planned for fiscal 2021
For the 26th time, Siemens has recognized employees as Inventors of the Year to honor their outstanding research achievements. The 22 awardees from the three companies Siemens AG, Siemens Energy and Siemens Healthineers are from China, Germany, France, India, Israel, Spain and the U.S. Individual researchers as well as diverse research and development teams that work internationally were honored with the award.
- Grazia Vittadini from Airbus and
Kasper Rørsted from Adidas are being proposed to Siemens’ shareholders as new Supervisory
Board members
- Jim Hagemann Snabe to be nominated
again as candidate for Supervisory Board chair
- Proposals underscore importance of
diversity, sustainability and digitalization for Siemens’ Supervisory Board
- Election to be for a four-year term
in each case
Siemens is
proposing two candidates for election as new Supervisory Board members by its
shareholders at the Annual Shareholders’ Meeting on February 3, 2021:
Grazia Vittadini (51), Chief Technology Officer and member of the Executive
Committee at Airbus, and Kasper Rørsted (58), CEO of Adidas AG.
- Declared intermediate target for CO2 reduction achieved
- Sustainability index embedded into Managing Board compensation system
- Innovative digital ESG tool provides basis for comprehensive review of
sustainability risks in customers’ business operations
- Top ratings in Dow Jones Sustainability Index, in particular for innovation,
environment and cybersecurity
Siemens has
achieved its declared intermediate target for carbon reduction. The company has reduced the carbon footprint
of its own value chain by more than half (54%) since 2014. Siemens has thus exceeded
– by four percentage points – its goal of halving its global carbon
dioxide (CO2) emissions by
2020. Including Siemens Energy, the company has reduced its carbon emissions by
around 1.2 million tons of CO2 compared to its 2014 levels. Four
levers are being used to reduce carbon emissions: expanding the energy
efficiency program, using distributed energy systems, purchasing green power, and
reducing emissions in the vehicle fleet. Siemens intends to achieve climate
neutrality in its business operations by 2030. The company has recently published these details and other up-to-date information
on sustainability.
- At €57.1 billion, revenue at prior-year level; orders decline slightly to €60.0 billion
- At €7.6 billion, adjusted EBITA for Industrial Businesses only slightly below prior-year level; adjusted EBITA margin of 14.3 percent (FY 2019: 14.4 percent) stable at a high level
- Net income of €4.2 billion (FY 2019: €5.6 billion)
- Free cash flow up substantially to €6.4 billion (FY 2019: €5.8 billion); highest level in past ten years
- Vision 2020+ execution successfully driven
- Total dividend of €3.50 per share (FY 2019: €3.90)
- Outlook: Siemens expects moderate rise in net income for FY 2021 despite significant burdens from currency translation effects
In extremely difficult economic times, Siemens AG delivered a strong financial performance in fiscal 2020 (ended September 30), while successfully driving the Group’s historic transformation. Despite the major challenges worldwide caused by the COVID-19 pandemic, Siemens successfully completed its fiscal year with a strong fourth quarter. In appreciation of their outstanding performance during the crisis, Siemens is paying about €200 million in bonuses to its employees worldwide. Shareholders are also to participate in the company’s business success and financial strength. For this reason, the Managing Board and Supervisory Board are proposing to the Annual Shareholders’ Meeting a dividend of €3.00 plus an additional €0.50, for a total of €3.50 per share. Adjusted by ten percent to take account of the market value of the Siemens Energy spin-off, this amount is at the same level as the prior-year dividend of €3.90.
- Siemens Global Business Services’ expertise in business processes to be
combined with the Celonis Execution Management System
- Optimization of key business processes in multiple areas such as procurement,
sales, accounting and HR in operations of customers
- Focus on digitalization and operational process automation – enhanced by artificial
intelligence
Siemens Global Business Services (GBS), the provider of business processes and services within Siemens AG, and Celonis, the market leader in Execution Management Systems (EMS), have today signed a letter of intent to enter a strategic partnership. Through this collaboration, the partners aim to help customers by enabling them to optimize their internal processes even faster across all parts of their companies. By combining the best solutions from their two worlds, Siemens GBS and Celonis aim to accelerate growth for the customers.