Siemens Aktiengesellschaft / Change of Personnel
04.05.2010 11:22
Dissemination of a UK Regulatory Announcement, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
The Supervisory Board of Siemens AG will hold an extraordinary meeting on
June 9, 2010, in response to the proposed appointment of Dr. Heinrich
Hiesinger as future Chairman of the Executive Board of ThyssenKrupp AG.
The Chairman's Committee of the Supervisory Board of Siemens AG recommends
that the Supervisory Board approve Hiesinger's wish to prematurely resign
from the Managing Board of Siemens AG, effective September 30, 2010. At the
same time, the Chairman's Committee proposes that, in the course of a
reallocation of duties on the Managing Board, Prof. Dr. Siegfried Russwurm
take over as CEO of the Industry Sector, effective July 1, 2010, and that
Ms. Brigitte Ederer, currently President and CEO of Siemens AG Ãsterreich
and CEO of the Cluster Central-Eastern-Europe, be appointed to the Managing
Board of Siemens AG, effective July 1, 2010. Ms. Ederer would head
Corporate Human Resources, have special responsibility for the Region
Europe, and serve as Labor Director pursuant to § 33 of the German
Codetermination Act (MitbestG).
---------------------------------------------------------------------------
Information and Explaination of the Issuer to this News:
This document contains forward-looking statements and information - that
is, statements related to future, not past, events. These statements may be
identified by words such as 'expects,' 'looks forward to', 'anticipates',
'intends', 'plans', 'believes', 'seeks', 'estimates', 'will', 'project' or
words of similar meaning. Such statements are based on the current
expectations and certain assumptions of Siemens' management, and are,
therefore, subject to certain risks and uncertainties. A variety of
factors, many of which are beyond Siemens' control, affect Siemens'
operations, performance, business strategy and results and could cause the
actual results, performance or achievements of Siemens to be materially
different from any future results, performance or achievements that may be
expressed or implied by such forward-looking statements. For Siemens,
particular uncertainties arise, among others, from changes in general
economic and business conditions (including margin developments in major
business areas and recessionary trends); the possibility that customers may
delay the conversion of booked orders into revenue or that prices will
decline as a result of continued adverse market conditions to a greater
extent than currently anticipated by Siemens' management; developments in
the financial markets, including fluctuations in interest and exchange
rates, commodity and equity prices, debt prices (credit spreads) and
financial assets generally; continued volatility and a further
deterioration of the capital markets; a worsening in the conditions of the
credit business and, in particular, additional uncertainties arising out of
the subprime, financial market and liquidity crises; future financial
performance of major industries that Siemens serves, including, without
limitation, the Sectors Industry, Energy and Healthcare; the challenges of
integrating major acquisitions and implementing joint ventures and other
significant portfolio measures; the introduction of competing products or
technologies by other companies; a lack of acceptance of new products or
services by customers targeted by Siemens; changes in business strategy;
the outcome of pending investigations and legal proceedings and actions
resulting from the findings of these investigations; the potential impact
of such investigations and proceedings on Siemens' ongoing business
including its relationships with governments and other customers; the
potential impact of such matters on Siemens' financial statements; as well
as various other factors. More detailed information about certain of the
risk factors affecting Siemens is contained throughout this report and in
Siemens' other filings with the SEC, which are available on the Siemens
website, www.siemens.com, and on the SEC's website, www.sec.gov. Should one
or more of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those
described in the relevant forward-looking statement as expected,
anticipated, intended, planned, believed, sought, estimated or projected.
Siemens does not intend or assume any obligation to update or revise these
forward-looking statements in light of developments which differ from those
anticipated.
New orders and backlog; adjusted or organic growth rates of Revenue and new
orders; book-to-bill ratio; return on equity, or ROE; return on capital
employed, or ROCE; Free cash flow; cash conversion rate, or CCR; EBITDA
(adjusted); EBIT (adjusted); earnings effect from purchase price allocation
(PPA effects) and integration costs; net debt and adjusted industrial net
debt are or may be non-GAAP financial measures. These supplemental
financial measures should not be viewed in isolation as alternatives to
measures of Siemens' financial condition, results of operations or cash
flows as presented in accordance with IFRS in its Consolidated Financial
Statements. A definition of these supplemental financial measures, a
reconciliation to the most directly comparable IFRS financial measures and
information regarding the usefulness and limitations of these supplemental
financial measures can be found on Siemens' Investor Relations website at
www.siemens.com/nonGAAP. For additional information, see 'Supplemental
financial measures' and the related discussion in Siemens' annual report on
Form 20-F, which can be found on Siemens' Investor Relations website or via
the EDGAR system on the website of the United States Securities and
Exchange Commission.
Siemens Investor Relations
Tel.: +49 89 636 32474
Fax.: +49 89 636 32830
Mail: investorrelations@siemens.com
04.05.2010 11:22 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
---------------------------------------------------------------------------
Language: English
Company: Siemens Aktiengesellschaft
Wittelsbacherplatz 2
80333 München
Deutschland
Phone: +49 (0)89 636-00
Fax: +49 (0)89 636-52000
E-mail: investorrelations@siemens.com
Internet: www.siemens.com
ISIN: DE0007236101
Indices: DAX, EURO STOXX 50
Listed: Regulierter Markt in Berlin, Frankfurt (Prime
Standard), Düsseldorf, München, Hannover, Stuttgart,
Hamburg; Terminbörse EUREX; Foreign Exchange(s) London,
NYSE, SIX
Category Code: BOA
LSE Ticker: SIE
Sequence Number: 473
Time of Receipt: May 04, 2010 10:45:40
End of News DGAP News-Service
---------------------------------------------------------------------------
DGAP-UK-Regulatory: Siemens Aktiengesellschaft: Heinrich Hiesinger resigns from Siemens Managing Board by mutual agreement - Siegfried Russwurm to head the Industry Sector - Brigitte Ederer to join the Managing Board and be named Labor Director
| Source: EQS Group AG