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Increased Freedom for Siemens Healthcare Through Reworked Board

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Published on : Jan 27, 2015

Siemens Chief Executive Officer, Joe Kaeser, has successfully reshuffled the management board of the company. The largest engineering company in Europe, Siemens, is now ready to submit its healthcare operations to greater internal independence.

Bernd Montag has been approached to take care of the healthcare unit. On the other hand, chief technology officer and personnel chief Siegfried Russwurm will oversee the business on Siemens’ Board.

Hermann Requardt, the leader in healthcare business since 2008, will now be replaced by Janina Kugel. Janina will also undertake the personnel duties from Russworm.

In 2014, Siemens had decided that they would give their healthcare section independence over internal operations so that it would operate more freely and react faster to market demands. Kaeser will concentrate on the energy business. The option of share listing on healthcare to Kaeser has been suggested by investment bankers.

Kaeser stated that the company is currently setting up a healthcare unit as a separately managed business withing Siemens in order to make road for a much more brighter future within a market that is extremely dynamice and driven by innovation.

Montag will become the healthcare CEO on February 1. Right now, he is the head of imaging and therapy systems business. Montag will not, however, be a part of the Siemens board.

The head of personnel development and diversity, Kugel, will become the second woman on the executive board over at Siemens. The first one was Lisa Davis; she was appointed for energy operations management in 2014.

The Munich based company has generated a schedule to report profits and earnings for the three months through December. The earnings report will be released tomorrow prior to the market’s opening.