Siemens' Worldly Ways

CEO Kleinfeld says that in energy, health care, and infrastructure, the German conglomerate is poised to capitalize on global "megatrends"

Siemens, the Munich electronics and engineering giant, has long been known as competent but a little slow. Profits rarely measure up to those of rivals such as General Electric (GE). Klaus Kleinfeld, who took over as CEO in early 2005, is trying to change that. The 48-year-old marathon runner has set tough targets for all Siemens (SI) divisions, which make products ranging from X-ray machines to fuel injectors to turbine generators. And he has sold underperforming units such as the mobile handset business.

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