Siemens Completes Leadership Transition

Roland Busch

Joe Kaeser

MUNICH — The successful term of office of long-serving President and CEO Joe Kaeser (63) ended Feb. 3 at the Annual Shareholders’ Meeting of Siemens AG. As long-planned, leadership of the Munich-based technology company will be transferred from Kaeser to his successor, Roland Busch (56) – a step that will mark the successful completion of Siemens’ leadership succession process. Due to the COVID-19 pandemic, the shareholders’ meeting is being held exclusively in a virtual format, in which neither shareholders nor their proxies will be present in person.

“Today, Siemens is bidding farewell to one of its greatest leaders. Joe Kaeser has shaped the company like few others and left behind a strong foundation for future generations. It’s certainly no exaggeration to say: Joe Kaeser’s departure marks the end of an era. At the same time, the next phase in Siemens’ transformation is beginning,” said Jim Hagemann Snabe (55), Chairman of the Supervisory Board of Siemens AG.

Snabe also praised Kaeser’s successor, who has worked for the Siemens Group since 1994, most recently as Chief Operating Officer, Chief Technology Officer and Deputy CEO: “In all his roles, Roland Busch has delivered impressive performance characterized by strategic wisdom and operating successes. Roland Busch is the ideal choice to further drive the transformation of Siemens AG,” said the Supervisory Board Chairman. “Roland Busch has the Supervisory Board’s full support for his plans for the next phase of Siemens’ development. The entire Supervisory Board wishes him all the best in his new role as President and CEO and is very much looking forward to working together with him!”

“When I took office as President and CEO, I publicly stated: ‘I personally vouch for making sure that the next generation inherits a better company. This is my responsibility. This is my promise.’ The time has now come to transfer the company to the next generation,” said outgoing President and CEO Joe Kaeser. “In an age of rapid technological transformation, the new Siemens AG needs a person at its helm who has a profound grasp of digital technologies and a high level of implementation competence. For me, that person is Roland Busch,” added Kaeser.

“It is with a great sense of responsibility and humility that I take on this role – and I’m very much looking forward to leading Siemens into the future with an outstanding team at my side. I’m very grateful to the members of the Supervisory Board for the trust they’ve placed in me. Our company now stands at the threshold of a decade of opportunities. Together with our customers, we want to lead industry, infrastructure, transportation and healthcare into the digital age – and thereby transform the everyday for billions of people. By pursuing clear strategic priorities, we’ll transform Siemens into a focused technology company that delivers sustainable growth,” said Roland Busch.

More information on Kaeser’s legacy and the new management team under Busch’s leadership can be found here.


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