The regular Annual Shareholders’ Meeting of Siemens AG has approved the proposed settlements between the company and nine former members of Siemens’ Managing and Supervisory Boards. The shareholders also endorsed an agreement whereby the provider of the company’s directors and officers insurance policy will cover damages of up to €100 million. In addition, the shareholders approved the current system of Managing Board compensation and ratified the acts of the Managing and Supervisory Boards for fiscal 2009. The Annual Shareholders’ Meeting also confirmed the dividend of €1.60 per share proposed by the Managing and Supervisory Boards. The proposals on these agenda items were approved by large majorities at the meeting today in Munich’s Olympiahalle.
Siemens held its Annual Shareholders' Meeting at the Olympia Hall in Munich on January 26, 2010.
As announced, Siemens AG filed suit today in the Munich District Court against two former Managing Board members, Thomas Ganswindt and Heinz-Joachim Neubürger. The company is claiming damages of €15 million from Neubürger, its former CFO, and €5 million from Ganswindt, the former head of its telecommunications business.
Siemens will sell its 25 percent stake in Dräger Medical AG & Co. KG to majority shareholder Dräger. Ownership of the medical engineering company will then be fully transferred to Dräger. Proceeds of the sale will have a minimum value of about €250 million. The Managing Board of Drägerwerk Verwaltungs AG, as personally liable shareholder of Drägerwerk AG & Co. KGaA, and the Managing Board of Siemens AG have agreed to the transaction, which is still subject to regulatory approval.
Atherosclerosis, more commonly known as arterial clogging, is the most widespread disease in most nations of the world. In a recent presentation at the Scientific Sessions of the American Heart Association meeting in Orlando, Fla., an international research team has documented that the people of antiquity suffered from clogged arteries, as well. Through the use of a SOMATOM® Emotion 6 computed tomography (CT) scanner from Siemens Healthcare, the team discovered the atherosclerosis in Egyptian mummies as old as 3,500 years.
Roland Chalons-Browne (53) has been appointed CEO of Siemens Financial Services, effective February 1, 2010. He will succeed Dominik Asam, who is leaving Siemens in March 2010 at his own request. Roland Chalons-Browne, a U.S. citizen, began his career in 1977 at Lloyds Bank International, where he rose from the position of Assistant Vice President to Branch Manager in New York. From 1981 to 1989, he worked at Mellon Bank. In 1989, he moved to WestLB, where, among other things, he was responsible, as a Managing Director, for the European and American market until 2005.
Siemens IT Solutions and Services will get a new management. Former CEO Christoph Kollatz (49) is stepping down from his position effective immediately. Christian Oecking (47), head of the Global Operations Business Unit, will serve as acting head of Siemens IT Solutions and Services until preparations for appointing a new CEO for the cross sector business can be completed.
Siemens AG will distribute funds totaling US$100 million, over 15 years, to nonprofit organizations worldwide that promote business integrity and fight corruption. Applications for support from the Siemens Integrity Initiative can be submitted as of today. “Siemens stands for clean and sustainable business,” said Peter Y. Solmssen, Member of the Managing Board and General Counsel of Siemens AG. “This initiative will boost our efforts for more business integrity and fair market conditions globally. We are looking forward to making this a joint success with the World Bank and other partners.”
Copenhagen is the “greenest” major city in Europe, followed by Stockholm, Oslo, Vienna, and Amsterdam. This is the conclusion reached by a unique study of the environmental sustainability of 30 major cities in 30 European countries that Siemens presented during the UN Climate Change Conference in Copenhagen. In addition to analyzing these cities’ achievements and objectives in the area of environmental and climate protection, the European Green City Index makes the differences transparent. The study evaluates the 30 cities in eight categories: CO2 emissions; energy; buildings; transportation; water; air quality; waste and land use; and environmental governance. “We support the cities’ efforts to achieve efficient climate protection by providing them with comprehensive standardized data,” said Dr. Reinhold Achatz, head of Corporate Research and Technologies, the central research unit of Siemens AG. “Cities can use this study to prioritize their actions in reducing their carbon footprint.”