Bad engineering

22 January 2013 By Olaf Storbeck

Shareholders of the German group will give short shrift to corporate principles when they re-elect Gerhard Cromme as chairman. Rules had to be changed to allow the man who also chairs ThyssenKrupp to run again. But Siemens badly needs fresh faces to cope with its many challenges.

This content is for Subscribers only

Context News

Shareholders of Germany’s Siemens AG will elect a new supervisory board at their annual meeting in Munich on Jan. 23. Siemens’s current Chairman Gerhard Cromme is seeking a new term. His candidacy was only made possible after age-limit rules for board members were tweaked.
Siemens will also release quarterly earnings on Jan. 23. According to a report of Germany’s Handelsblatt citing unnamed sources, the company made a net profit from continuing operations of about 1.3 billion euros in its fiscal first quarter, little changed from a year earlier. That would beat analysts’ consensus forecasts of 1.14 billion euros in a Reuters poll.

Email a friend

Please complete the form below.

Required fields *