January 29, 2020 / 1:48 PM / 25 days ago

Siemens chief Kaeser says he is scrapping group CEO role - Die Zeit

FILE PHOTO: Siemens CEO Joe Kaeser attends a news conference after talks with climate activists in Berlin, Germany, January 10, 2020. REUTERS/Hannibal Hanschke/File Photo

ZURICH (Reuters) - The break-up of Siemens (SIEGn.DE) by spinning off its energy business will bring an end to the group chief executive role, CEO Joe Kaeser told German newspaper Die Zeit.

The planned listing of the energy business this year represents a “significant milestone” for the German engineering company, Kaeser said in the interview to be published on Thursday.

“The Siemens of today will then no longer exist, and thus the workload work of the current CEO will no longer exist,” Kaeser said.

After the reorganisation and spin-off, there would be three separate Siemens business, all able to shape their own future, he said.

“That’s why I am abolishing this job in its current form, I am getting rid of myself,” said Kaeser, whose contract runs to early next year.

Roland Busch, who was appointed deputy chief executive in October, is favourite as Kaeser’s eventual successor at the remaining industrial part of the trains to industrial software company.

When asked if he wanted to remain in charge at Siemens, where he has been CEO since 2013, Kaeser said it was not up to him alone.

“That is a decision for the supervisory board, not only me,” Kaeser said. “The decision has not been made ... although there is a clear roadmap.”

Reporting by John Revill; Editing by David Goodman

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