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Press Release02 January 2023Digital IndustriesNuremberg
Change of leadership at Siemens Large Drives Applications
Michael Reichle has assumed responsibility as CEO of Siemens Portfolio Company Large Drives Applications (LDA) effective January 1, 2023.
Michael
Reichle joined Siemens in 1997 and has held various management and CEO
positions in recent years, including CEO of the independent Portfolio Company Siemens
Logistics since 2014. He has more than 25 years of management experience.
"Siemens
Large Drives Applications has excellent potential. With our dedicated
employees, we are very well positioned worldwide. We offer our customers an
outstanding and innovative portfolio," said Reichle. "I am looking
forward to my new role and at the same time, approach the opportunity with
great respect."
Reichle will
also take over as CEO of the new integrated motors and large drives company to
be founded. At its annual press conference on November 17, 2022, Siemens
announced that it would combine its Large Drives Applications, Low Voltage
Motors, Geared Motors, Weiss Spindeltechnologie and Sykatec business units
under a single roof. The planned new company is to operate under its own legal
form and outside the core business of Siemens AG; its headquarters are to be in
Germany.
"Together
with his strong team, Michael Reichle has achieved the turnaround and excellent
realignment of the Siemens Logistics business as CEO of Siemens
Logistics," said Horst J. Kayser, Chairman of Siemens Portfolio Companies.
"As a leader with strong international and cross-industry experience,
Michael Reichle is also the perfect choice for the role as CEO of the new
integrated motors and large drives champion."
Christoph
Salentin will remain CFO of LDA and will then also assume responsibility as CFO
for the new company. As CFO, Salentin is making a significant contribution to
achieving the turnaround and continuous improvement of LDA's business processes
and has played a key role in leading LDA to become an independent company over
the past year.
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Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power.
In fiscal 2022, which ended on September 30, 2022, the Siemens Group generated revenue of €72.0 billion and net income of €4.4 billion. As of September 30, 2022, the company had around 311,000 employees worldwide. Further information is available on the Internet at www.siemens.com.
In fiscal 2022, which ended on September 30, 2022, the Siemens Group generated revenue of €72.0 billion and net income of €4.4 billion. As of September 30, 2022, the company had around 311,000 employees worldwide. Further information is available on the Internet at www.siemens.com.
Siemens Large Drives Applications (LDA) develops and produces high-performance electrical drive systems for the medium and high voltage range: electric motors, converters and generators. LDA is one of the Portfolio Companies of Siemens. These decentralized business units operate in an agile and flexible manner and are characterized by fast decision-making and reaction times. As a result, they are more competitive in their respective markets and can better focus on their customers in different industries.