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by David R. Brousell, MA Editorial Staff Posted on Thursday, November 29, 2007 4:00:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | New CEO Peter Loscher organizes the conglomerate into three main units covering industry, energy, and healthcare and takes the motion control business out from under the umbrella of Automation & Drives. |
| Keywords: | Siemens reorganization, Siemens reorg |
As expected, the new chief executive of engineering and industrial giant Siemens AG yesterday shook up the company, formally announcing a sweeping reorganization of operations that includes the breakup of its automation and drives business unit. The corporate restructuring is the first major change in how Siemens is organized since 1989. The new corporate organizational structure devised by Peter Loscher, who became CEO on July 1 in the wake of a bribery scandal that claimed the resignations of a number of top Siemens executives, calls for the formation of what Siemens terms three major "sectors" — Industry, Energy, and Healthcare. Effective in January, the three sectors will encompass 15 divisions. Previously, Siemens, with €72.4 billion in revenue and 475,000 employees, was organized into nine major areas: Information and Communications, Automation and Control, Power, Transportation, Medical, Lighting, Financing and Real Estate, Affiliates, and Other Activities. [Click to continue] |
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