Siemens is set to expand its management board from five to seven members as part of a strategic initiative to accelerate its shift toward becoming a technology-focused enterprise. This expansion will take effect on October 1st, with Peter Koerte, the current head of strategy and technology, and Veronika Bienert, who leads Siemens Financial Services, joining the board.
This move is a response to Siemens’ substantial scale, with a workforce of 324,000 employees and annual revenues of €80 billion. The expanded leadership team is expected to enhance the company’s ability to drive growth and manage its complex operations more effectively.
Jim Hagemann Snabe, Chairman of the Supervisory Board since 2018, will seek re-election for another two-year term in February. Snabe underscored Siemens’ commitment to artificial intelligence (AI), emphasizing its role in the company’s strategy to leverage AI for industrial applications and maintain a competitive edge. Peter Koerte’s appointment to the board is anticipated to be crucial in advancing this AI-driven strategy.
In addition to the board expansion, Siemens announced that Cedrik Neike, the head of the Digital Industries division, will have his contract extended for an additional five years. The company also hinted at potential future leadership changes, mentioning that Veronika Bienert might be a candidate to succeed the current CFO, Ralf Thomas, who plans to retire in 2026. However, Snabe noted that it is still too early for a formal discussion regarding this succession plan.
