Siemens Expands Management Board with a Shift Towards AI, According to Reuters

By Alexander Hübner

BERLIN – Siemens’ supervisory board is moving to accelerate the company’s transition to a technology-centric enterprise by enlarging its management board from five to seven members, the company announced on Wednesday.

Effective October 1, Peter Koerte, who leads strategy and technology, along with Veronika Bienert, the head of Siemens Financial Services, will join the management board. Jim Hagemann Snabe, the chairman of the supervisory board, intends to seek reelection for a two-year term at the upcoming annual general meeting in February.

"We have the right strategy in place. However, a company that employs 324,000 people and generates 80 billion euros in revenue can benefit from a broader board," said Snabe, who has served as Siemens’ chairman since 2018 and has been a board member since October 2013. "I aim to support the newly formed board for another two years to drive growth."

Snabe highlighted that artificial intelligence is a pivotal area of focus for Siemens as the company seeks to harness AI for industrial applications ahead of its rivals. "This presents a significant opportunity for Siemens, although it poses challenges for a company of this scale," he noted, pointing out that Koerte will have a vital role in this initiative.

Siemens also announced that Cedrik Neike, head of the Digital Industries automation division—which has been particularly impacted by declining demand in China—will have his management board contract extended for an additional five years.

Bienert, 51, who previously served as chief financial officer for Siemens Financial Services, has been identified as a "suitable candidate" to succeed the current CFO, Ralf Thomas, who is set to retire in 2026. However, Snabe emphasized that it is premature to discuss this matter further at this time.