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Supervisory Board Endorses Strategic Direction and Leadership Team of Siemens AG and Extends the Contract of Roland Busch, President and CEO

April 15, 2024

Supervisory Board endorses strategic direction and leadership team of Siemens AG and extends the contract of Roland Busch, President and CEO
Operational headquarters in Nuremberg, Germany, with around 14,000 employees worldwide and revenue of approximately €3 billion

The Supervisory Board of Siemens AG confirmed a five-year contract extension for President and Chief Executive Officer Roland Busch from April 1, 2025

  • With key leadership decisions, Supervisory Board demonstrates confidence in the strategy and trajectory of Siemens AG as a leading technology company
  • Announcement of five-year contract extension for Roland Busch (59) as President and CEO, from April 1, 2025
  • Intention confirmed to extend appointment of Cedrik Neike (51), member of the Managing Board and CEO of Digital Industries, for a further five years from June 1, 2025

The Supervisory Board of Siemens AG confirmed a five-year contract extension for President and Chief Executive Officer Roland Busch from April 1, 2025. The move is a mark of support for the strategy of Siemens as a leading technology company, with the current Managing Board driving three years of record financial performance and the further strategic development of the company.

Additionally, it was announced that the Supervisory Board plans to extend the contract of Cedrik Neike, member of the Managing Board of Siemens AG and CEO of Digital Industries, for five years from June 2025, when his current contract is set to renew.

“Siemens has the right strategy and the right leadership team to support future growth and success, building on a track record of outstanding operational execution and technology leadership. Roland Busch has successfully led a strong team with impressive results. He is driving the transformation journey of Siemens in a dynamic market environment. Roland can continue to deliver on his strong aspiration to accelerate digitalization and sustainability for customers and improve people’s lives through technology all over the world,” said Jim Hagemann Snabe, Chairman of the Supervisory Board. 

“Cedrik Neike has led the transformation of Digital Industries: solidifying leadership in industrial automation and software, while creating strong customer impact and shaping a winning culture as a role model leader of Siemens’ largest business,” Snabe added.

“Over the last three and a half years, Siemens has achieved remarkable success as a leading technology company. We have delivered record performance in exceptional times. Our innovations are enabling customers to master their digital and sustainability transformations and we are expanding our partnerships to create even more value for customers,” said Roland Busch, President and CEO. “I deeply appreciate Team Siemens for their commitment and dedication. And I am grateful to the Supervisory Board for their trust in me. It is a privilege to lead this great company,” Busch added.


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Successful Start to Fiscal 2024 for Siemens

Siemens made a successful start to fiscal 2024 with a strong performance in the first quarter (ended December 31, 2023). At €2.7 billion, Profit Industrial Business increased at nearly all industrial businesses to reach a record high for the first quarter of a fiscal year. On this basis, Siemens confirms its outlook for the current fiscal year 2024. As announced in November 2023, the company is also initiating a new share buyback program in the near term with a volume of up to €6 billion over a period of up to five years. 

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