Siemens Appoints Ralf P. Thomas New CFO for Industry Sector


Munich, 2007-Dec-20

Siemens has appointed Ralf P. Thomas (46) - currently head of Siemens' Corporate Finance Reporting & Taxes unit - the new CFO of the company's Industry Sector. His appointment follows Siemens' precautionary revocation of the appointment of Hannes Apitzsch, who had originally been selected for the position of Industry Sector CFO. Siemens has also named the 15 CFOs of the company's future Divisions, all of whom are Siemens employees. The CFO of the Industry Sector will report directly to the Siemens CFO. The Division CFOs will report to the CFOs of their respective Sectors. The appointments will come into effect at the same time as the new company structure. Implementation of the new structure is scheduled for January 1, 2008, following the conclusion of talks on the structure with the Central Works Council and the finalization of the new Business Units.

"With the appointment of the CFOs of the Divisions and the Industry Sector, all key positions within the new company structure have now been filled. In naming Mr. Thomas CFO of the Industry Sector, we have selected one of the company's most capable and most highly respected managers in the area of finance, an individual who enjoys my complete trust," noted Siemens CFO Joe Kaeser. As head of the company's Corporate Finance Reporting & Taxes unit, Thomas -- like Siemens' CEO and CFO -- was subject to extensive scrutiny during the audit of the Annual Financial Statements for fiscal 2007, and no objections whatsoever were raised in connection with him.

Industry Sector:

The Industry Sector and its products and solutions address industry customers in the fields of production, transportation and building systems. The Sector is primarily comprised of the business activities of the Groups A&D, I&S, SBT, Osram and Transportation Systems (TS). Consolidating these business activities under one roof will offer major growth opportunities in hardware and software platforms as well as for sales and marketing. Around 209,000 employees currently work in the new Siemens Sector. The Sector's businesses generated revenues of roughly 40 billion in fiscal 2007. Siemens anticipates that the Sector's target markets will show 5 percent annual growth and reach a volume of nearly 500 billion by 2010. Heinrich Hiesinger was appointed CEO of the Industry Sector at the end of November 2007. As members of the Siemens Managing Board, the Sector CEOs have operational responsibility for their respective business.

Industry Automation
Miguel-Angel Lopez (*1965), currently Head of Business Administration at A&D's Low Voltage Controls and Distribution Division

Motion Control
Thomas Rathmann (*1964), currently Head of Business Administration at A&D's Standard Drives Division

Building Technologies
Andreas Goss (*1964), Division-CFO as of 1st April 2008, currently Head of Business Administration at Siemens UK

Osram
Johannes Närger (*1960), currently Head of Business Administration at Osram

Industry Solutions
Wolfgang Hermann (*1965), currently Head of Mergers and Acquisitions at Siemens' Corporate Finance Department

Mobility
Michael Schulz-Drost (*1954), currently Head of Business Administration at Siemens IT Solutions & Services

Energy Sector:

The Energy Sector primarily addresses energy providers, but also industrial companies particularly in the oil and gas industry. The Sector is solidly positioned and holds leading market positions in all six of its Divisions. Its spectrum of offerings ranges from solutions for the oil and gas industry to products and solutions for the generation, transmission and distribution of electrical energy. This makes the Energy Sector the world's only manufacturer with comprehensive know-how along the entire chain of energy conversion, particularly regarding interfaces such as between power plants and grids. The Sector primarily comprises the former Power Generation (PG) and Power Transmission and Distribution (PTD) Groups. Merging these two businesses offers new opportunities, particularly for sales and marketing, as with cross-selling. With a more extensive service network, the Sector will be even closer to its customers. In addition, the merger offers synergy potential in areas like research and development. In the rapidly growing global wind power market, the Energy Sector not only builds off- and onshore wind farms, but also ensures their efficient linking to power grids. The new Siemens Sector has currently roughly 73,500 employees, and posted revenue of nearly 20 billion in fiscal 2007. The prospects for the Energy Sector are outstanding, since the overall energy market is projected to grow 11 percent annually up to 2010. Siemens estimates that the total volume of the market in 2010 will be substantially over 300 billion. Wolfgang Dehen was appointed future CEO of the Sector at the end of November 2007.

Fossil Power Generation
Michael Becker (*1962), currently Head of Business Administration at PG's Products Division

Renewable Energy
Ralf Guntermann (*1957),Energy Sector CFO, acting

Oil & Gas
Ralf Guntermann (*1957), Energy Sector CFO, acting

Service Rotating Equipment
Steve Conner (*1964), currently CFO at Siemens Power Generation Inc. (U.S.)

Power Transmission
Gerhard Kurt Lübke (*1964), currently Head of Business Administration at PTD's High Voltage Division

Power Distribution
Matthias Platsch (*1968), currently Head of Business Administration at A&D's Sensors and Communication Division

Healthcare Sector:

The Healthcare Sector stands for innovative products and complete solutions as well as service and consulting in the healthcare industry. The Sector comprises the former Medical Solutions Group. The new Siemens Sector has around 49,000 employees following the closing of the Dade Behring acquisition. In fiscal 2007, Medical Solutions had revenue on a pro forma basis (including Dade Behring) of roughly 11 billion. Following the acquisition of DPC, Bayer Diagnostics and Dade Behring, Siemens is the first fully integrated diagnostics provider in the world. The Healthcare Sector can thus offer its customers a unique and comprehensive portfolio of medical solutions covering the entire value-added chain - ranging from medical imaging and laboratory diagnostics to clinical IT - all from a single source. These solutions provide higher quality in healthcare delivery at lower cost. The Sector addresses a market worth around 57 billion. Erich R. Reinhardt was appointed as future CEO of the Sector at the end of November 2007.

Imaging & IT
Thomas Schaffer (*1958), currently Head of Business Administration at A&D China

Workflow & Solutions
Wolfgang Beitz (*1962), currently Head of Business Administration at Siemens Japan and CFO at Siemens Asahi Med

Diagnostics
Jochen Schmitz (*1966), currently Head of Business Administration at Med's Diagnostics Division

Detailed descriptions of the business activities of the 15 Divisions are available in our press release "Siemens organizes operations in three Sectors with total of 15 Divisions" issued on November 28, 2007. This press release is available online at: www.siemens.com/presse.

Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. The company has around 400,000 employees (in continuing operations) working to develop and manufacture products, design and install complex systems and projects, and tailor a wide range of solutions for individual requirements. For over 160 years, Siemens has stood for technical achievements, innovation, quality, reliability and internationality. In fiscal 2007, Siemens had revenue of 72.4 billion and income from continuing operations of 3.9 billion (IFRS). Further information is available on the Internet at: www.siemens.com.

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