- Siemens adds Peter Koerte and Veronika Bienert to its board on October 1. Chairman Jim Hagemann Snabe seeks re-election in February.
- AI will be a focus, with Koerte leading. Cedrik Neike’s contract is extended, and Bienert may succeed CFO Ralf Thomas in 2026.
OUR TAKE
Siemens is increasing its management board from five to seven members to enhance its focus on technology and artificial intelligence (AI). This expansion indicates a strategic shift towards leveraging cutting-edge technology to drive growth and maintain a competitive edge in the industry.
–Jennifer Yu, BTW reporter
What happened
Siemens announced Wednesday that it will expand its management board from five to seven members to speed up its transition to a technology-focused enterprise.
Peter Koerte, head of strategy and technology, and Veronika Bienert, head of Siemens Financial Services, will join the board on October 1. Supervisory Board Chairman Jim Hagemann Snabe will seek re-election for a two-year term in February.
“We have the right strategy. A larger board will benefit our 324,000 employees and 80 billion euro revenue,” said Snabe, who aims to accelerate growth over the next two years.
Snabe emphasised that artificial intelligence is a key focus, with Koerte playing a crucial role.
Cedrik Neike, head of the Digital Industries division, will have his contract extended by five years. Bienert is considered a potential successor to CFO Ralf Thomas, who will retire in 2026.
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Why it’s important
The addition of Peter Koerte, who heads strategy and technology, and Veronika Bienert, head of Siemens Financial Services, brings new expertise to the board. Their roles are crucial for implementing Siemens’ technology and financial strategies. The re-election of Chairman Jim Hagemann Snabe in February will provide leadership continuity during this transition.
Siemens is prioritising AI to improve industrial applications and stay ahead of competitors. Koerte’s involvement will be critical in advancing Siemens’ AI initiatives, which could significantly impact the company’s technological capabilities and market position.
Furthermore, Cedrik Neike’s contract extension and the potential future role of Bienert as CFO indicate Siemens’ proactive approach to leadership and succession planning, ensuring stability and strategic alignment as CFO Ralf Thomas prepares for retirement in 2026.
