Hans-Jörg Grundmann appointed Chief Compliance Officer

After more than four years at the helm of the Rail Systems and Mobility Divisions, Hans-Jörg Grundmann will assume new duties as Chief Compliance Officer of Siemens AG at the beginning of the new fiscal year. He will succeed Josef Winter, who has been appointed CEO of Siemens' Regional Company in Indonesia. Jochen Eickholt has been appointed CEO of the Rail Systems Division in the Infrastructure & Cities Sector. These personnel changes will all take effect on October 1, 2012.

Siemens' Compliance Organization remains based on two fundamental pillars. The Chief Compliance Officer and Chief Counsel Compliance jointly head the company's compliance activities. The Chief Compliance Officer is responsible for issues relating to operations and sales. Klaus Moosmayer will continue to serve as Chief Counsel Compliance, with responsibility for all legal aspects of compliance. Siemens is thus making further strides on the road to leveraging compliance as a competitive advantage for the company's business operations.

In 1997, Grundmann, who has a doctorate in physics, moved from AEG to Siemens, where he most recently headed the Rail Systems Division. Josef Winter was appointed Chief Compliance Officer of Siemens AG in July 2010. He had previously headed Siemens' Regional Companies in Germany and South Korea. Eickholt has been responsible to date for the Rail Automation Business Unit in the neighboring Mobility and Logistics Division of the Infrastructure & Cities Sector.