Home » Peter Loscher to step up as CEO at Siemens
Peter Loscher to step up as CEO at Siemens
Munich, May 20, 2007
Peter Löscher, currently President of Global Human Health, Merck & Co. Inc., headquartered in Whitehouse Station, N. J., will be the new president and CEO of Siemens AG. The Supervisory Board of Siemens AG approved the proposal of its Chairman's Committee to appoint Löscher a full member of the Managing Board of Siemens AG and Siemens President and CEO at a meeting in Munich on May 20, 2007. Löscher will take office on July 1, 2007. Dr. Klaus Kleinfeld will step down as Siemens President and CEO, effective June 30, 2007.
In addition, the Supervisory Board of Siemens AG approved the proposal of the Chairman's Committee to appoint Dr. Heinrich Hiesinger to the Managing Board of Siemens AG. Effective June 1, 2007, Hiesinger, who is currently Group President of Siemens Building Technologies (SBT), will be a full member of the Managing Board of Siemens AG and a member of the company's Corporate Executive Committee.
"In Peter Löscher, we have found an exceptional individual for the office of President and CEO of Siemens AG. His upright character, his global background, his outstanding international reputation and his wide-ranging experience in business development and strategy, the financial markets and technology-related issues were the key factors in our decision. I am convinced that Mr. Löscher has what it takes to steer Siemens through its current difficulties and into a better future. I am looking forward to our collaboration with great pleasure," said Gerhard Cromme, Chairman of Siemens' Supervisory Board.
"It is a great honor and an extraordinary challenge to have been appointed President and CEO of Siemens AG. I know Siemens as one of the world's foremost corporate addresses and as a company with a rich tradition and strong foundations. I am looking forward to assuming the leadership of Siemens and the overall responsibility for benefiting the company's customers, employees, investors and shareholders. My wife, my children and I are all delighted to be moving back to Europe and to Germany," said Peter Löscher, the future President and CEO of Siemens AG.
Born on September 17, 1957 in Villach, Austria, Löscher studied economics in Vienna, Hong Kong and at Harvard Business School in the United States. He began his professional career in 1985 at the German management consultants Kienbaum & Partner. From 1988 to 2002, he held a variety of posts at Hoechst AG and, following its merger with Rhone Poulenc Rohrer, at Aventis -- working in Germany, the U.S., Spain, the UK and Japan. As head of corporate planning, he made a major contribution to transforming the company from a highly diversified conglomerate to a focused life sciences enterprise. He was subsequently appointed Chairman, President and CEO of Aventis Pharma Ltd. In 2002, he moved to the UK life sciences company Amersham and, following its acquisition by General Electric, joined the GE Corporate Executive Council. Since 2006, Peter Löscher has been a member of the Executive Committee at Merck, one of the world's leading pharmaceutical companies, and President of Merck's Global Human Health division.
Effective June 1, 2007, Heinrich Hiesinger will have special responsibility within the Corporate Executive Committee primarily for the Region Europe (with the Regional Organization Germany) and for the Groups Siemens IT Solutions and Services and SBT. Hiesinger is also slated to succeed Dr. Jürgen Radomski as head of Siemens' Corporate Personnel Department and as Labor Director (pursuant to § 33 of the German Codetermination Act) by December 31, 2007, at the latest. Hiesinger's successor as Group President of SBT will be named in the near future.
Past Time to Upgrade Your DCS?
Upgrading Your DCS: Why You May Need to Do It Sooner Than You Think
Friday p.m. Wrap-Up:This Week on ControlGlobal and Elsewhere
Some of the week's biggest stories in process automation
What's Bad Weather Costing Us?
U.S. taxpayers paid nearly $100 billion responding to damages caused by last year’s extreme weather events associated with climate change, about $1,100 per taxpayer, according to an analysis by the Natural Resources Defense Council (NRDC).
BP, Shell, Statoil Raided by EC
European Commission investigators raided the offices of oil companies BP, Royal Dutch Shell and Statoil as well as data collector Platts as part of a larger inquiry into price manipulation of the global crude market.
Invensys' SimSci Suite 2013 Now with More Usability Features
Invensys releases SimSci Suite 2013, a DVD catalogue providing a single source for all of Invensys' current SimSci-Esscor design, operator training, simulation and optimization software
What We Can Learn About Safety from the Titanic Hearings
This report from the U.K. publication The Engineer is instructive. It reprints a report from the May, 1912 hearings on the sinking of the Titanic.
Honeywell Integrates and Certifies FMC722 Subsea Automation Protocol
The integration and certification of these solutions will boost the productivity of oil and gas field operators and engineers
Monsanto Muscatine named 2012 HART Plant of the Year
The HART Communication Foundation today announces that the Monsanto chemical manufacturing plant located in Muscatine, Iowa, USA, was selected as recipient of the 2012 HART Plant of the Year Award.
Siemens Gas Chromatograph Is ISA Product of the Year
Siemens Industry, Inc. has been awarded the prestigious ISA Analysis Division Product of the Year Award for 2013 for its Maxum edition II gas chromatograph featuring a new modular oven and color touch panel display.
IChemE Issues Call for Papers for Fall Conference
Scotland will host a new international symposium on the future of the oil and gas industry later this year, and papers are now being invited on key issues including shale gas, carbon management and the future of refining and petrochemicals in Europe.
- All news »
Access the entire print issue on-line and be notified each month via e-mail when your new issue is ready for you. Subscribe today.
- Featured White Papers