Siemens : Siegfried Russwurm to resign by mutal agreement from the Siemens Management Board

Munich, 2016-Sep-23

The Supervisory Board of Siemens AG and Managing Board member Siegfried Russwurm have mutually agreed that the company's contract with Russwurm, which will expire at the end of March 2017, will not be renewed. Russwurm has been a member of the Managing Board since January 2008 and, in addition to his responsibilities as Chief Technology Officer, was the partner on the Managing Board for the separately managed Healthcare business. In addition, he was responsible for the Middle East and CIS regions.

'Siegfried Russwurm has been with Siemens since 1992 and has played a significant part in shaping the company in many areas. 'I would like to express my sincere gratitude and appreciation for this contribution,' said Gerhard Cromme, Chairman of the Supervisory Board of Siemens AG. 'The decision not to extend his contract, which expires on March 31, was made with the full agreement of both parties.'

'I'd like to thank Mr. Russwurm for the positive and trust-based collaboration over the years,' said Joe Kaeser, President and CEO of Siemens AG. 'As Chief Technology Officer, he was instrumental in driving Siemens' digital transformation and ensured that Siemens' voice is heard on the future-oriented topic of Industrie 4.0.'

Siegfried Russwurm explained: 'I've spent the greater part of my professional life at Siemens. I will always remain connected with this company and with its employees. Nevertheless, I don't want to close the door to potential new challenges. As a result, I've agreed with the Supervisory Board that my contract will not be extended when it runs out in the near future.'

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