The supervisory board of Siemens has announced Christian Bruch as the designated chief executive and named Maria Ferraro as chief financial officer of Siemens Energy, effective from 1 May.
Michael Sen and Klaus Patzak, Siemens Energy’s current designated CEO and CFO, are leaving by mutual agreement, although Sen will remain available as an advisor to the president and CEO of Siemens until the spring of 2021.
Bruch (pictured), who is currently executive vice president of Linde and CEO of Linde Engineering, will also be the new CEO of Siemens Gas and Power.
Ferraro is currently CFO of the Digital Industries operating company and Siemens’ chief diversity officer (CDO).
She will be replaced by Rudolf Basson, who is currently CFO of Siemens in China, at DI and by Natalia Oropeza as CDO. Oropeza will also continue in her role as chief cybersecurity officer.
The decisions were made at an extraordinary meeting of the supervisory board, at which Siemens president and CEO Joe Kaeser announced that he will not be pursuing an extension of his contract.
Kaeser will be proposed as chairman of the supervisory board, with Roland Busch, currently deputy CEO, to be president and CEO of Siemens.
This appointment is to be effective at the end of the next ordinary annual shareholders’ meeting, which is to take place on 3 February, the company said.
In the meantime, Kaeser will, in addition to his current duties, assume responsibility within the managing board for Siemens Energy, including Siemens Gamesa.
On an acting basis until 1 May, operational management of Siemens Gas and Power will be in the hands of Tim Holt, its current chief operations Officer and chief human resources officer.
Siemens supervisory board chairman Jim Hageman Snabe said: “The supervisory board congratulates Christian Bruch and Maria Ferraro on their new roles.
“The highly qualified and highly motivated team at Siemens Energy has everything it takes to become a driving force for decarbonization and for the global energy transition.”
“We would like to thank Michael Sen and Klaus Patzak for their support in preparing the spinoff of Siemens Energy.
“In this process, we’re on schedule, and we’re still pursuing a public listing of the company in September 2020.”
Snabe thanked Kaeser on behalf of the entire supervisory board for “acting with foresight and for demonstrating the decisiveness and courage to set up Siemens for the future from a position of strength”.
He added: “With all his experience and his excellent network of contacts to customers that have global operations and to governments around the world, Joe Kaeser will be an important advisor to the executive board of Siemens Energy.”