Siemens extends Joe Kaeser’s term as CEO

Siemens has extended Joe Kaeser’s appointment as the company’s president and CEO ahead of schedule. 

His term in the office will now extend until the annual shareholders meeting in 2021, Siemens said on Thursday, noting this decision is part of the company’s Vision 2020 strategy program.

Speaking of Kaeser’s extension, Siemens’ supervisory board chairman Gerhard Cromme, said, “He’s not only a guarantor of success but also of stability in increasingly turbulent times.”

Kaeser noted that although a lot has been done over the past four years, the company is still shaping the “digital transformation of the industry.”

Implementation of the Vision 2020 strategic realignment was initiated at the start of the fiscal year that began on October 1, 2014. The core elements are the alignment of the company with the

Siemens is focusing on aligning the company with the growth fields of electrification, automation and digitalization, as well as on sharpening of the focus of the company’s portfolio and the implementation of concrete, sustainable measures for enhancing its functional efficiency.

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