Siemens AG will probably appoint investor relations head Mariel von Drathen, strategy chief Horst Kayser and incoming personnel strategy head Janina Kugel to a new executive support group below the management board, according to a person familiar with the matter.
Siemens AG, Europe’s largest engineering company, will buy back as much as 4 billion euros ($5.4 billion) of shares as Chief Executive Officer Joe Kaeser bets that an efficiency push will boost profitability next year.
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.
Siemens AG, Europe’s largest engineering company, agreed to sell part of its water- technologies division to AEA Investors for 640 million euros ($865 million) as it focuses on higher-margin businesses.