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Press Release28 October 2019Siemens AGMunich

Siemens announces new management team for Siemens Energy

The members of the future management team have many years of international experience in the industry and in-depth knowledge of the challenges in the company’s businesses and markets as well as of its customers’ needs. A core element of the strategy will continue to be a strong presence and thus close customer proximity in the regions.
In addition to his current role as Chief Operations Officer, Tim Holt will be nominated for the position of Labor Director of Siemens Energy. Jochen Eickholt, who is currently Chairman of the Portfolio Companies (POC) of Siemens AG, is a new member of the Siemens Energy management team. Before moving to POC, Jochen Eickholt succeeded, among other things, in getting Siemens Mobility back on track.
“I’m genuinely convinced that better outcomes are based on having different perspectives and experience profiles within the team,” said Michael Sen, designated CEO of Siemens Energy. “We’re progressing on our way rapidly and decisively. Siemens Energy will be a leading force in the energy markets and further drive the decarbonization of energy systems worldwide.”
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.

For this press release

Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. The company is active around the globe, focusing on the areas of electrification, automation and digitalization. One of the largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. With its publicly listed subsidiary Siemens Healthineers AG, the company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2018, which ended on September 30, 2018, Siemens generated revenue of €83.0 billion and net income of €6.1 billion. At the end of September 2018, the company had around 379,000 employees worldwide. Further information is available on the Internet at www.siemens.com .
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Robin Zimmermann

Siemens AG

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Germany

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