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Siemens Seeks Insider Boost by Naming Veteran Kaeser CEO
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As Siemens AG supervisory board representatives met over the weekend to discuss the ouster of Chief Executive Officer Peter Loescher, his successor traveled 110 miles to his home Bavarian village of Arnbruck to celebrate the arrival of a new fire truck.
Joe Kaeser, named as CEO of Europe’s biggest engineering company yesterday, is as much of a Siemens insider, rooted in its southern German home state, as Loescher was an outsider. The 56-year-old Kaeser has worked at the Munich-based company for 33 years, and seven of those as chief financial officer.