A key milestone on the way to independence: Siemens Energy presented its new management team to its employees today. In addition to an Executive Board, the company will have an expanded international management team, the Group Management Committee. Once Siemens Energy becomes a legally separate entity, this team will be instrumental in implementing the company’s strategic approach. “Announcing the management team is a further critical step on the way to becoming an independent company and an energy pure play. It will enable Siemens Energy to further develop its management system and then focus fully on the requirements of its customers and markets,” said Joe Kaeser, President and CEO of Siemens AG.
- Helmuth Ludwig to leave the company at his own request
- Siemens’
IT organization to support Vision 2020+ execution
At the
beginning of 2020, Hanna Hennig (50) will become the new Chief Information
Officer (CIO) at Siemens. In this capacity, she will be responsible for the
company’s global IT organization and will report directly to Roland Busch, Deputy
CEO of Siemens. Hennig is currently still CIO at Osram Licht AG in Munich. She will
succeed Helmuth Ludwig (57), who will leave the company at his own request and
by mutual agreement at the end of December 2019. Ludwig has been working at
Siemens for about 30 years in a variety of roles inside and outside Germany. In
the future, he will be dedicating more time to teaching at Southern Methodist
University in Dallas, Texas (USA), where he has been an adjunct professor for international
corporate strategy for the past six years.
- Business to be officially renamed as
of April 2020
- Employees’ favorite selected
At an internal management conference, Siemens today announced the name of the new energy company that it is creating. The business, which combines the worlds of conventional and renewable energy and is to become an independent company in the future, is to be called Siemens Energy. The new name will officially take effect once the energy business becomes a separate legal entity, which is expected to happen in April 2020. Siemens Energy is to be spun off as a publicly listed company by September 2020. Its offerings will address a significant portion of the value chain across the oil and gas, power generation, and power transmission segments, including the related service activities. On a pro-forma basis, Siemens Energy generates about €27 billion in revenue and has some 88,000 employees worldwide as well as an order backlog of €70 billion. Today, 20 percent of the world’s energy supply is already based on Siemens technology.
- Unique test facility comprising a bioreactor and
electrolyzer under construction in Marl (Germany)
- High-value specialty chemicals produced from CO2
and water using electricity from renewable sources and bacteria
- Rheticus
II will receive funding of around €3.5 million from Germany's Federal
Ministry of Education and Research
Evonik and Siemens today
launched their joint research project Rheticus II. The goal is to develop an
efficient and powerful test plant that will use carbon dioxide (CO2) and water as
well as electricity from renewable sources and bacteria to produce specialty
chemicals. In the Rheticus I project, the two companies worked
for two years to develop the technically feasible basis for artificial
photosynthesis using a bioreactor and electrolyzers. Evonik and Siemens are now
combining these two, previously separate, plants in a test facility at Evonik’s
site in Marl (Germany). Rheticus II will run until 2021 and will receive
funding of around €3.5 million from Germany’s Federal Ministry of Education and
Research (BMBF).
- MHMM to become sole owner of
Primetals Technologies
- Closing expected by early calendar year 2020
- Financial details not disclosed
Mitsubishi-Hitachi Metals Machinery (MHMM) – an MHI group company – and Siemens AG reached agreement on September 30, 2019, that MHMM will acquire Siemens’ 49 percent stake in Primetals Technologies. Closing of the transaction is subject to customary conditions and is expected by early 2020. Siemens will support the process to ensure a successful closing of the transaction. Following closing, MHMM will assume sole control of Primetals Technologies. Financial details of the transaction were not disclosed.
By Jim Hagemann Snabe
“The speculations published in Der
Spiegel magazine are false. It was Mr. Kaeser himself who proposed to the
Supervisory Board that a Deputy CEO be appointed in order to accelerate orderly
succession planning. In response to this proposal, the Supervisory Board
approved the following resolution:
‘The Supervisory Board will decide on the
successor to Joe Kaeser and on the timing of the succession in the summer of
2020.’
No questions about appointments to the Supervisory Board of Siemens AG
were discussed.”
Let the good times roll: Starting September 21, about six million people from all around the world will be enjoying themselves at the Oktoberfest in Munich for two weeks. Traditionally, Siemens supplies drives and control systems as well as energy distribution for the festival's rides. Automation solutions from Siemens also control special beer pipelines – the only ones of its kind worldwide –that supply the Hacker, Winzerer Faehndl and Braeurosl festival tents with their tasty Oktoberfest brews. Because many breweries use Siemens technologies within their brewing process, Siemens doesn't only ensure fresh beer at the Oktoberfest.
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Michael Sen will be proposed as CEO of the future publicly listed company in the energy and electricity sector. He has also been named Co-CEO of Siemens’ Gas and Power Operating Company
- Lisa Davis to support – as Co-CEO of the Gas and Power Operating Company – the transition to the new energy company until the ordinary Annual Shareholder’s Meeting in February 2020. Her contract will expire as scheduled
- Roland Busch appointed Deputy CEO of Siemens AG
- Supervisory Board decision on successor to Joe Kaeser and on date of succession to be made in summer of 2020
At its regular meeting today, the Supervisory Board of Siemens AG made the first personnel decisions required to set the course for the company’s future. Managing Board member Michael Sen – whose current duties include responsibility for the company’s equity investment in Siemens Gamesa Renewable Energy (SGRE) – will be proposed as CEO of the new company in the energy and electricity sector. Plans call for publicly listing the business in September 2020. Michael Sen has also been appointed Co-CEO with Lisa Davis of Siemens’ Gas and Power (GP) Operating Company, effective October 1, 2019. Lisa Davis previously informed the Supervisory Board that, for personal reasons, she did not wish to further extend her present contract. Until the ordinary Annual Shareholders’ Meeting in 2020, she will ensure an orderly handover of her leadership responsibilities to Michael Sen. Lisa Davis will subsequently support the President and CEO of Siemens AG in an advisory capacity until her contract expires.
- Facilities in Baiji will power Iraq’s biggest refinery and deliver
electricity to thousands of homes in liberated areas
- Siemens equipment includes E-class gas turbines, substations and
generators
- Project is start of Phase 2 of Siemens’ Roadmap for Iraq and will be
completed 28 months after financial closing by Iraq’s government
Siemens
and Orascom Construction signed an agreement with Iraq’s Ministry of
Electricity to rebuild Baiji 1 and Baiji 2 power plants in northern Iraq. The
plants will have a combined generation capacity of 1.6 gigawatts (GW) when
completed and are a major step in Siemens’ roadmap for rebuilding Iraq's power
sector that has already added more than 700 megawatts to Iraq’s grid.
- Siemens issues bonds with a
total value of €3.5 billion and maturities of two, five, ten and fifteen years
- Investor demand more than
four times higher than issue volume
- Siemens secures most
favorable financing conditions to date
Siemens has
issued bonds with a total value of €3.5 billion. The transaction closed yesterday.
The proceeds of the issuance will be used for general corporate purposes. Investor
demand was very high. At around €15 billion, demand was more than four times
the issue volume. More than 70 percent of the investors are from Germany,
France or the UK.