Change at the helm of the Supervisory Board of Siemens – Gerhard Cromme succeeds Heinrich v. Pierer as Supervisory Board Chairman
At its meeting today, the Supervisory Board of Siemens AG unanimously elected Dr. Gerhard Cromme to succeed Dr. Heinrich v. Pierer as Chairman of the Supervisory Board, effective immediately. Pierer vacated his position at the beginning of the Supervisory Board meeting. Cromme will chair the body for the remainder of the current term of office, which expires at the Annual Shareholders’ Meeting of Siemens AG on January 24, 2008.
Cromme has been a member of Siemens’ Supervisory Board since 2003 and Chairman of the Audit Committee since 2005. A new election of all shareholder representatives on the Supervisory Board is on the agenda of the next Annual Shareholders’ Meeting, since the standard five-year term of office ends on that date. Prof. Michael Mirow, who was responsible for strategy development at Siemens headquarters until 2002, will take Pierer’s place on the Board.
Pierer’s decision paved the way for a personnel change. He had been a member of the Supervisory Board and its Chairman since January 28, 2005. The Supervisory Board expressly thanked Pierer for his excellent work on behalf of Siemens over numerous decades and his outstanding contributions to the company.
Pierer began his career at Siemens in 1969, when he joined the legal office of the corporate finance department. In 1977, he transferred to the company’s subsidiary Kraftwerk Union AG (KWU), where he held key management positions in connection with projects in Germany and abroad. In 1988, Pierer was appointed head of business administration and member of the Power Generation Group (KWU) Executive Management. The following year, he was named President of the Group and appointed member of the Managing Board of Siemens AG. In 1990, Pierer was elected to the Siemens Corporate Executive Committee, and in 1991 he was appointed Deputy Chairman of the Managing Board. From October 1, 1992 until the conclusion of the Annual Shareholders’ Meeting on January 27, 2005, Pierer was President and Chief Executive Officer of Siemens AG.
Dr. Gerhard Cromme was employed by the French group Compagnie de Saint-Gobain in France and Germany for the first fifteen years of his career. In 1986, Cromme moved to the Krupp Group, where he held several offices both at Krupp and ThyssenKrupp, most recently Chairman of the Executive Board. Since 2001, Cromme has been Chairman of the Supervisory Board of ThyssenKrupp AG while also serving as chairman and member of a number of other supervisory boards and advisory bodies.
In addition, he is Chairman of the Government Commission on the German Corporate Governance Code.
Siemens AG (Berlin and Munich) is a global powerhouse in electrical engineering and electronics. The company has around 475,000 employees (incl. discontinued operations) working to develop and manufacture products, design and install complex systems and projects, and tailor a wide range of services for individual requirements. Siemens provides innovative technologies and comprehensive know-how to benefit customers in over 190 countries. Founded more than 155 years ago, the company focuses on the areas of Information and Communications, Automation and Control, Power, Transportation, Medical, and Lighting. In fiscal 2006 (ended September 30), Siemens had sales of €87.3 billion and net income of €3.033 billion, according to U.S. GAAP. Further information is available on the Internet at: www.siemens.com.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.