Siemens AG is considering selling its VAI metals technologies unit as Chief Executive Officer Joe Kaeser evaluates the portfolio of Europe’s largest engineering company, according to three people with knowledge of the matter.
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’s Klaus Moosmayer has been appointed by the Organization for Economic Co-operation and Development’s business advisory committee as its anti-corruption taskforce head, drawing on the German company’s experience fighting graft.
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.
When in May 2007 Siemens AG, battered by corruption scandals, picked then little-known Merck & Co. executive Peter Loescher as its chief executive officer, investors responded by pushing the stock to a six-year high.
Siemens AG’s supervisory board members will meet this weekend to discuss the leadership of Europe’s largest engineering company as investors and analysts question how long Chief Executive Officer Peter Loescher can keep his job.