Siemens places a high priority on artificial intelligence in an effort to outperform its rivals in this industry.
Siemens announced on Wednesday that its supervisory board intends to accelerate the company’s shift to a technology-focused business by increasing the number of members on its management board from five to seven.
On October 1, the Munich-based company announced that Veronika Bienert, the CEO of Siemens Financial Services, and Peter Koerte, the head of strategy and technology, will join its management board. At the annual general meeting in February, Jim Hagemann Snabe, the chairman of the Supervisory Board, will run for reelection for a two-year term.
“We have the right strategy. However, a company with 324,000 employees and 80 billion euros in revenue can benefit from a larger board,” Snabe, who has been Siemens’ chairman since 2018 and a board member since October 2013, told Reuters.
“I want to accompany the newly formed board for another two years to accelerate growth,” he added.
Snabe stated that Siemens places a high priority on artificial intelligence in an effort to outperform its rivals in this industry.
“This is a significant opportunity for Siemens, but not easy for a company of this size,” he said, adding that Koerte would play a crucial role in this effort.
Siemens said in a statement that Cedrik Neike, the head of the Digital Industries automation division, whose contract has been severely impacted by the slow demand in China, will have it extended by five years on the management board.
Snabe stated that it was premature to discuss the topic at this time, but Bienert, 51, who formerly held the position of chief financial officer at Siemens Financial Services, would be “a suitable candidate” to replace Ralf Thomas, the German conglomerate’s current CFO, who is set to retire in 2026.
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