The Supervisory Board of Siemens Energy has extended the contract of chief executive Christian Bruch (pictured) for a further five years until April 2030.
The original term of the contract was until April 2025.
Chairman of the Supervisory Board of Siemens Energy Joe Kaeser acknowledged how Bruch has led Siemens Energy through “turbulent times”, starting with the implementation of the spin-off of Siemens Energy and continuing with geopolitical turbulence in Europe.
Kaeser said: “The challenges reached their peak with the complete takeover of the wind business.
“The hoped-for improvements in transparency and access materialised but showed fundamental shortcomings.
“Christian Bruch and his team have raised the conventional business to new levels with unparalleled commitment and stopped the existential decline of the wind business.
“The first effects of this are already visible and the planned return of the wind business to break even from 2026 will complete one of the largest restructuring projects in Siemens’ history.
“The Supervisory Board is looking forward to actively accompanying Siemens Energy into the age of global electrification with Christian Bruch at the helm.”
Bruch added: “I would like to thank the Supervisory Board for the trust they have placed in me.
“It is a great honour for me to work for the Siemens Energy team as chief executive.
“My goal remains to continuously increase the profitability and value of Siemens Energy. First and foremost, this means consistently implementing our priorities: profitable growth, restructuring the wind business, and further strengthening our balance sheet.”
First deputy chairman of the Supervisory Board and chairman of the General Works Council Robert Kensbock said: “The Works Council members welcome the extension of Christian Bruch’s contract and are convinced that this continuity sends a positive signal both internally and externally.
“Looking ahead, we would expect to be involved in decisions at an early stage and comprehensively.
“Our employees are the key factor for the success of our company, and this must be reflected in the cooperation with the works council committees.”