Siemens: to name COO Roland Busch as deputy-CEO

(CercleFinance.com) - Siemens' chief operating officer Roland Busch has been appointed deputy CEO of the German industrial group, putting him as a key candidate to succeed CEO Joe Kaeser next year.


By appointing Busch - who is also the company's technology chief - the conglomerate said it wants to emphasize "the importance of industrial digitalization for the next generation."

The appointment will be effective as of 1 October. Roland Busch will also be responsible for the implementation of the group's "Vision 2020+" strategy.

Siemens said the decision on who will succeed Joe Kaeser will made in summer of 2020.

It also said that Michael Sen - whose current duties include responsibility for the company's equity investment in Siemens Gamesa - will be proposed as CEO of the new company in the energy and electricity sector, which it plans to list in September 2020.

Investors gave a rather lukewarm response to the announcements, with the Siemens share broadly flat in early morning trading in Frankfurt.

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