Siemens AG Taps CFO as New Leader
Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!
German engineering giant Siemens (SIEGn.DE) named finance chief Joe Kaeser, a 33-year company veteran, as its new boss after dumping Chief Executive Peter Loescher four years before the end of his contract following a series of profit warnings. Kaeser, 56, faces the challenge of whipping into shape a lumbering conglomerate with 78 billion euros ($104 billion) of annual sales and products ranging from gas turbines to high-speed trains and ultrasound machines. Years of breakneck expansion and forays into new businesses, including an ill-fated detour into solar energy which led to a billion-euro loss, have left Siemens in disarray and lagging rivals such as General Electric (GE.N) in terms of profitability.
Help employers find you! Check out all the jobs and post your resume.
German engineering giant Siemens (SIEGn.DE) named finance chief Joe Kaeser, a 33-year company veteran, as its new boss after dumping Chief Executive Peter Loescher four years before the end of his contract following a series of profit warnings. Kaeser, 56, faces the challenge of whipping into shape a lumbering conglomerate with 78 billion euros ($104 billion) of annual sales and products ranging from gas turbines to high-speed trains and ultrasound machines. Years of breakneck expansion and forays into new businesses, including an ill-fated detour into solar energy which led to a billion-euro loss, have left Siemens in disarray and lagging rivals such as General Electric (GE.N) in terms of profitability.
Help employers find you! Check out all the jobs and post your resume.