The Surprising Siemens Shakeup

The CEO is under pressure to raise all his divisions' profits. The resulting changes have been unexpected -- and often unwelcome

Even Siemens (SI) insiders were caught off guard by the news. The Munich-based engineering and electronics giant announced on Mar. 22 that Chief Financial Officer Heinz-Joachim Neubürger is giving up his post more than a year before his contract expires. The departure of Neubürger, 53, well before he reaches retirement age is part of a major management shakeup by Siemens Chief Executive Klaus Kleinfeld as he tries to reach a self-imposed goal of getting the $92 billion conglomerate running on all cylinders by Apr. 2007.

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