Monday, 29 July 2013

Siemens says board to decide on early CEO departure on July 31

BERLIN (Reuters) - Siemens said late on Saturday that the German engineering group's supervisory board will decide on the early departure of Chief Executive Peter Loescher at its meeting on July 31.

The board will also decide on the appointment of a member of the managing board as new CEO at that time, Siemens said, without providing details.

A majority of the Munich-based company's supervisory board members are in favor of voting out Loescher, two people familiar with the matter told Reuters earlier, adding they wanted finance chief Joe Kaeser to replace him.

(Reporting by Andreas Cremer)


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