Siemens appoints new President

Joe Kaeser has been named the new president and CEO of Siemens AG. Kaeser previously was the CFO of Siemens AG since 2006.
The current CEO Peter Löscher resigned his position as the CEO and from the Managing Board of Siemens AG by mutual consent. These changes were unanimously approved by the Supervisory Board of Siemens AG at its meeting.
Löscher took office on July 1, 2007. Confronted first with the compliance crisis and then with the global financial and debt crisis, Löscher led the company successfully in very challenging times.
Peter Löscher will remain associated with Siemens AG and perform a number of duties at the request and in the interest of the company.
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