Siemens managing board member Michael Sen will no longer take charge of the new energy business which the German engineering group wants to spin off later this year, it said on Thursday, after he agreed to leave the company.
Siemens also announced that longstanding Chief Executive Joe Kaeser would leave the company and be replaced by deputy Chief Executive Roland Busch by early next year at the latest, making official a move that was expected.Sen had been one of the favourites to succeed 62-year-old Kaeser before he was named CEO designate of the 27 billion euro Siemens Energy business last September.
The trains to industrial software conglomerate gave no reasons for the departures, although a source told Reuters there had been disagreements about how large a stake Siemens would retain in the new company after the spin-off. The spinoff and public listing of Siemens Energy by the end of September 2020 is being pursued on schedule and without change, Siemens said.
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