Siemens Said to Pick von Drathen for Board Support Group

Siemens AG (SIE) will probably appoint investor relations head Mariel von Drathen, strategy chief Horst Kayser and incoming personnel strategy head Janina Kugel to a new executive support group below the management board, according to a person familiar with the matter.

The person asked not to be identified as the members of the six-person group of executives, which will support the management board by running day-to-day operations, haven’t been announced yet. Siemens Chief Executive Officer Joe Kaeser said earlier today at a conference in Berlin that the group will start in January. He didn’t reveal the names of the executives, while saying that “two to three will be women.” A Siemens representative declined to comment.

The six managers will “allow the executive board to concentrate on the company’s core competencies,” Kaeser said.

Former finance chief Kaeser became CEO this year after predecessor Peter Loescher slashed a profit target five times in his six-year tenure. To match the profitability of rivals such as ABB Ltd. and General Electric Co., Kaeser is trying to reduce charges for mismanaged projects that have weighed upon earnings of Munich-based Siemens, Europe’s biggest engineering company.

To contact the reporter on this story: Simon Thiel in London at sthiel1@bloomberg.net

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.