Siemens Scaling Back Creates Chance to Reload Leadership
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Two years after proclaiming an end to more than a decade of restructuring, Siemens AG Chief Executive Officer Peter Loescher is back in familiar territory.
Loescher will present a plan to rekindle growth and lower costs when Europe’s largest engineering company reports earnings tomorrow. The executive said last month that Siemens needs simpler processes and must eliminate redundant functions and laggard units. He gave a first taste of his vision when he pulled the plug on the solar-power business in October.