In a surprise move, Siemens AG has appointed a new chief executive designate at soon-to-be spun-off Siemens Energy
The company announced the plan to spinoff its share of wind turbine manufacturer Siemens Gamesa Renewable Energy and its gas and power business into a new unit in May 2019.
Christian Bruch, executive vice president at Linde plc is to become the new designated chief executive at Siemens Energy.
Michael Sen, who had been expected to lead the energy outfit once it was spun-off, is to leave the company, but will remain available as an advisor to the president and chief executive of Siemens AG until Q2 2021.
Siemens said the spinoff and public listing of Siemens Energy at end of September 2020 “is being pursued on schedule and without change.”
The changes at Siemens Energy are part of a larger reshuffle within Siemens that follows a decision by Siemens AG president and chief executive Joe Kaeser not to pursue an extension of his contract.
Mr Kaeser has however been proposed as chairman of the supervisory board of Siemens Energy. He will take on that role immediately, including oversight of Siemens Gamesa Renewable Energy.
Roland Busch has been named president and chief executive of Siemens AG and has been appointed to that role for five years.
Maria Ferraro, who is currently chief financial officer at Siemens’ digital industries operating company, has been appointed the new chief financial officer of Siemens Energy, effective 1 May 2020.
The moves were approved at an extraordinary meeting of the supervisory board of Siemens AG on 19 March 2020.