"Siegfried Russwurm has been with Siemens since 1992 and has played a significant part in shaping the company in many areas. I would like to express my sincere gratitude and appreciation for this contribution," said Gerhard Cromme, Chairman of the Supervisory Board of Siemens AG. "The decision not to extend his contract, which expires on March 31, was made with the full agreement of both parties."
"On behalf of all colleagues, I'd like to thank Mr. Russwurm for the positive and successful collaboration over the years," said Joe Kaeser, President and CEO of Siemens AG. "As Chief Technology Officer, he was instrumental in enabling Siemens to regain a position of global leadership in the important areas of electrification, automation and digitalization."
Siegfried Russwurm explained: "I've spent the greater part of my professional life at Siemens. I will always remain connected with this company and with its employees. Nevertheless, I don't want to close the door to potential new challenges. As a result, I've agreed with the Supervisory Board that my contract will not be extended when it runs out in the near future."