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Siemens Board Members to Meet as Pressure on Loescher Mounts

Siemens AG’s supervisory board members will meet this weekend to discuss the leadership of Europe’s largest engineering company as investors and analysts question how long Chief Executive Officer Peter Loescher can keep his job.

Loescher, brought in in 2007 to clean up after the biggest corruption scandal in German history, yesterday vowed to fight on after cutting a profit forecast for the fifth time in his six-year tenure. By contrast, competitor General Electric Co. last week reported second-quarter profit that beat analyst estimates, helped by a record order backlog.