Angela Merkel wasn’t in a hurry to inflict economic pain on Russia. Cautious, pragmatic and mindful of German business ties to the country, the chancellor tried to defuse the Ukraine crisis through back-channel diplomacy and frequent phone calls with Russian President Vladimir Putin.
Chancellor Angela Merkel’s deputy chided Siemens AG Chief Executive Officer Joe Kaeser for traveling to Moscow, saying German companies shouldn’t sell out European values to protect business with Russia.
As Siemens AG supervisory board representatives met over the weekend to discuss the ouster of Chief Executive Officer Peter Loescher, his successor traveled 110 miles to his home Bavarian village of Arnbruck to celebrate the arrival of a new fire truck.
Siemens AG Chief Executive Officer Joe Kaeser is dismantling a sales structure set up under his predecessor Peter Loescher to enable Europe’s largest engineering company to react more quickly to market demands.