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Siemens Appoints SAP Co-Chief Snabe to Supervisory Board

Siemens AG named SAP AG’s co-Chief Executive Officer Jim Hagemann Snabe to its supervisory board and appointed Ralf Thomas as chief financial officer to rebuild its ranks after months of upheaval.

Snabe joins Europe’s biggest engineering company after former Deutsche Bank AG Chief Executive Officer Josef Ackermann last week announced he’ll step down as deputy chairman. Former Bayer AG chief executive officer Werner Wenning, who is already on the supervisory board, will become deputy chairman.