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Siemens CEO Removes Predecessor Appointee as Solmssen Quits

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Nov. 27 (Bloomberg) -- Siemens AG said Peter Solmssen will step down from the management board by “mutual agreement,” handing his mandate to oversee compliance and legal affairs to Chief Executive Officer Joe Kaeser.

Andreas Christian Hoffmann will head the legal and compliance department, without Solmssen’s seat on the executive, the Munich-based company said in a statement today.

The exit of Solmssen, a U.S. national and former General Electric Co. executive hired in the wake of a corruption scandal at the Munich-based engineering company, leaves Siemens’s top board dominated by German nationals. It’s part of a management overhaul that’s gradually removing the footprints of former CEO Peter Loescher, ousted in July after a series of profit disappointments.

“Solmssen joined Siemens at a difficult time and played a key role in investigating the compliance affair at our company,” supervisory board Chairman Gerhard Cromme said in the statement.

Solmssen is the last of a series of executives brought in from outside Siemens by Loescher. Procurement chief Barbara Kux, a Swiss national, and human resources head Brigitte Ederer, from Austria, have both stepped down since September as Cromme downsized the board.

The executive committee now has seven members, of whom only health-care chief Hermann Requardt doesn’t come from Siemens’s home state of Bavaria. A new tier of managers below board level will start in January to carry out some roles previously filled at board level.

Kaeser has unraveled a sales structure established by Loescher, returning distribution competencies to country managers from the previous cross-border cluster organization. He has also reorganized the energy division by carving out the oil and gas sales functions into a separate unit and unifying fossil fuel power generation units.

To contact the reporters on this story: Andrew Noel in London at anoel@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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