Siemens Said to Plan Naming Either Thomas or Sen as CFO

Siemens AG (SIE), Europe’s largest engineering company, is poised to promote Ralf Thomas or Michael Sen to the position of chief financial officer, said three people with knowledge of the matter.

The Munich-based company has yet to decide between the two candidates, said the people, who are familiar with the hiring process and asked not to be named as the talks are private. Thomas is the finance chief of Siemens’s industry division and Sen holds the same role at the health-care business.

While the CFO shortlist also includes two external candidates, an internal appointment is the preferred option because of Siemens’s complex structure and both Thomas and Sen are well regarded within the company, the people said. The finance chief may be appointed at a supervisory board meeting on Wednesday, the people said. Siemens declined to comment.

The company needs to name a new finance chief after Joe Kaeser became chief executive officer last month, replacing Peter Loescher after five profit forecast cuts in six years.

To contact the reporters on this story: Angela Maier in Munich at amaier8@bloomberg.net; Alex Webb in Munich at awebb25@bloomberg.net

To contact the editor responsible for this story: Simon Thiel at sthiel1@bloomberg.net

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