Siemens CEO Roland Busch is expected to lead the Munich-based technology group until 2030. Siemens announced that the supervisory board had extended its contract, which was previously valid until the end of March 2025, by five years. The 59-year-old has been running the company alone for three years.
“The strategy is working, Siemens has become a growth and technology company. That was always my dream,” said Supervisory Board Chairman Jim Hagemann Snabe, explaining the move. “Roland Busch has transformed the company faster than I would have expected. There is real team spirit on the board,” said Snabe. The 58-year-old Dane also wants to accompany Siemens on its journey for longer than originally planned.
Snabe is elected until 2025, but has so far left his future open: after twelve years on the supervisory board, he is no longer considered independent. “At the 2025 general meeting I will be on the supervisory board for eleven and a half years. So I could extend it again – not for four years, but maybe for one or two years if necessary,” he said. “Regardless of this, we are of course looking for my successor.”
Busch would be 65 years old when his new contract expires. Since 2023, an age limit of 67 has applied to the Siemens Executive Board. After the major restructuring under his predecessor Joe Kaeser, Busch brought more calm to the group. He is considered a technology enthusiast and primarily wants to combine hardware and software. Under his aegis, the price of Siemens shares rose by a good third; on Tuesday it rose 0.6 percent to 175.24 euros.