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Changes in the Managing Board of Siemens AG

  • Brigitte Ederer to join the Managing Board and be named Labor Director
  • Siegfried Russwurm to head the Industry Sector
  • Heinrich Hiesinger leaves due to candidacy as Chairman of the Executive Board of ThyssenKrupp
Siemens AG has just released the following ad hoc announcement pursuant to § 15 of the German Securities Trading Act (WpHG):
The Supervisory Board of Siemens AG will hold an extraordinary meeting on June 9, 2010, in response to the proposed appointment of Dr. Heinrich Hiesinger as future Chairman of the Executive Board of ThyssenKrupp AG.
The Chairman’s Committee of the Supervisory Board of Siemens AG recommends that the Supervisory Board approve Hiesinger’s wish to prematurely resign from the Managing Board of Siemens AG, effective September 30, 2010. At the same time, the Chairman’s Committee proposes that, in the course of a reallocation of duties on the Managing Board, Prof. Dr. Siegfried Russwurm take over as CEO of the Industry Sector, effective July 1, 2010, and that Ms. Brigitte Ederer, currently President and CEO of Siemens AG Österreich and CEO of the Cluster Central-Eastern-Europe, be appointed to the Managing Board of Siemens AG, effective July 1, 2010. Ms. Ederer would head Corporate Human Resources, have special responsibility for the Region Europe, and serve as Labor Director pursuant to § 33 of the German Codetermination Act (MitbestG).

For this press release

Siegfried Russwurm

Heinrich Hiesinger

Brigitte Ederer

Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is the world’s largest provider of environmental technologies, generating €23 billion – nearly one-third of its total revenue – from green products and solutions. In fiscal 2009, which ended on September 30, 2009, revenue totaled €76.7 billion and net income €2.5 billion. At the end of September 2009, Siemens had around 405,000 employees worldwide. Further information is available on the Internet at:

This document contains forward-looking statements and information – that is, statements related to future, not past, events. These statements may be identified by words such as “expects,” “looks forward to,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will,” “project” or words of similar meaning. Such statements are based on the current expectations and certain assumptions of Siemens’ management, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond Siemens’ control, affect Siemens’ operations, performance, business strategy and results and could cause the actual results, performance or achievements of Siemens to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. For Siemens, particular uncertainties arise, among others, from changes in general economic and business conditions (including margin developments in major business areas and recessionary trends); the possibility that customers may delay the conversion of booked orders into revenue or that prices will decline as a result of continued adverse market conditions to a greater extent than currently anticipated by Siemens’ management; developments in the financial markets, including fluctuations in interest and exchange rates, commodity and equity prices, debt prices (credit spreads) and financial assets generally; continued volatility and a further deterioration of the capital markets; a worsening in the conditions of the credit business and, in particular, additional uncertainties arising out of the subprime, financial market and liquidity crises; future financial performance of major industries that Siemens serves, including, without limitation, the Sectors Industry, Energy and Healthcare; the challenges of integrating major acquisitions and implementing joint ventures and other significant portfolio measures; the introduction of competing products or technologies by other companies; a lack of acceptance of new products or services by customers targeted by Siemens; changes in business strategy; the outcome of pending investigations and legal proceedings and actions resulting from the findings of these investigations; the potential impact of such investigations and proceedings on Siemens’ ongoing business including its relationships with governments and other customers; the potential impact of such matters on Siemens’ financial statements; as well as various other factors. More detailed information about certain of the risk factors affecting Siemens is contained throughout this report and in Siemens’ other filings with the SEC, which are available on the Siemens website,, and on the SEC’s website, Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the relevant forward-looking statement as expected, anticipated, intended, planned, believed, sought, estimated or projected. Siemens does not intend or assume any obligation to update or revise these forward-looking statements in light of developments which differ from those anticipated.
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Constantin Birnstiel

Siemens AG

Wittelsbacherplatz 2
80333 Munich

+49 (89) 636-36669