Siemens 2013 Annual Report Download - page 104

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A. Report of the Supervisory Board
Berlin and Munich, November 27, 2013
Fiscal 2013 was an eventful year. The Supervisory Board had to make a number of difficult
decisions – decisions that were, however, necessary in the interest of the Company.
Our most important decisions concerned changes in the composition of the Managing
Board. At our meeting on July 31, 2013, we approved the termination by mutual consent of
Peter Löscher’s appointment as a full member of the Managing Board and as President
and Chief Executive Officer of Siemens AG as well as the termination agreement regarding
his Managing Board employment contract. The Supervisory Board has great respect for
Mr. Löscher’s achievements. Starting on July 1, 2007, he led Siemens in the challenging times
of the compliance crisis and the global financial crisis. Through his efforts, he restored our
Company’s high reputation. The Supervisory Board thanked Mr. Löscher for his services.
The Supervisory Board has appointed Joe Kaeser the Company’s new President and Chief
Executive Officer. Mr. Kaeser – who has held management positions at Siemens both in and
outside Germany for more than 30 years – was appointed to a new term of office as a full
member of the Managing Board and President and Chief Executive Officer of Siemens AG,
effective August 1, 2013 to July 31, 2018. At our meeting on September 18, 2013, we appointed
Dr. Ralf P. Thomas a full member of the Managing Board and Head of the Managing Board
area Finance and Controlling, effective September 18, 2013 to September 17, 2018. At the
same meeting, we approved the termination by mutual consent of Brigitte Ederer’s appoint-
ment as a full member of the Managing Board and as Labor Director, effective the end of
September 30, 2013, as well as the termination agreement regarding her Managing Board
employment contract. We thanked Ms. Ederer for her many years of exemplary commitment
and her many successes in the service of the Company. Klaus Helmrich was appointed to
succeed Ms. Ederer as Labor Director and Head of the Managing Board area Human Resources.
He will continue to serve the Company as Chief Technology Officer. In view of the growing
demand for qualified experts worldwide and the importance of innovation leadership and
leading technology positions for Siemens’ competitiveness, we consider this close inte-
gration of the Managing Board responsibilities for technology and human resources to be
an advantage – particularly with regard to strengthening the recruiting and development
of top talents in the areas of science, research and technology.
Barbara Kux’s appointment as a full member of the Managing Board expired at the end
of November 16, 2013. We thanked Ms. Kux for her achievements as Head of Supply Chain
Management and in connection with the Company’s sustainability-related activities.