Siemens Names Deputy CEO, Proposes Future Energy Business's Boss

   By Max Bernhard 
 

Siemens AG (SIE.XE) made two key executive decisions Wednesday, naming Roland Busch as deputy chief executive of the company and proposing Michael Sen as head of its energy business.

Mr. Busch, who is currently the German industrial company's chief operations and chief technology officer, will take his new role on Oct. 1. He is also appointed as Siemens's labor director, effective Dec. 1, the company said.

Siemens said it would also propose Michael Sen--currently responsible for the company's equity investment in Siemens Gamesa Renewable Energy SA (SGRE.MC)--as CEO of its future energy business, which Siemens plans to list in September next year. Mr Sen has also been appointed Co-CEO of Siemens's Gas and Power Operating Co., effective Oct. 1.

The company's supervisory board will decide on a successor for current Chief Executive Joe Kaeser in the summer of next year, Siemens said.

"Michael Sen's appointment as CEO will put a strong, strategic leader at the helm of the future energy business. During his time at E.ON, he gained broad experience in the energy industry on both the customer and supplier sides," Supervisory Board Chairman Jim Hagemann Snabe said.

Write to Max Bernhard at [e-mail]; @mxbernhard

(END) Dow Jones Newswires

September 18, 2019 12:40 ET (16:40 GMT)

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