Generation change finalized for top Siemens management

14.07.2004

Pierer to succeed Baumann as Chairman of Supervisory Board on January 27, 2005
Pierer's Managing Board contract to be extended to January 27, 2005
Kleinfeld to be appointed President and CEO
Ganswindt and Lamprecht to be elected to Corporate Executive Committee
IC Networks and IC Mobile to be merged under Pauly

Siemens has begun a generation change in the company's top management. At its meeting on July 28, 2004, the Supervisory Board will consider changes in top management positions and make key personnel decisions. In agreement with the Chairman's Committee of the Supervisory Board, Supervisory Board Chairman Karl-Hermann Baumann will make the following proposals to the Board:

A change in the membership of the Supervisory Board is to be proposed and voted upon at the Annual Shareholders' Meeting on January 27, 2005. Karl-Hermann Baumann will turn 70 on July 22, 2005, and will, as stipulated by company rules, retire at the end of the Meeting on January 27, 2005. It will be proposed at the Meeting that Heinrich v. Pierer be elected as his successor. At the Supervisory Board meeting held later the same day, members will then vote on Pierer's election as Chairman of the Supervisory Board of Siemens AG. Pierer's Managing Board contract, which is scheduled to expire on September 30, 2004, is to be extended to January 27, 2005.
It will be proposed to the Supervisory Board that Klaus Kleinfeld (46) be appointed Deputy Chairman of the Managing Board of Siemens AG, effective August 1, 2004. When Pierer moves to the Supervisory Board, Kleinfeld would take over as Chairman of the Managing Board, President and Chief Executive Officer on January 27, 2005.
Thomas Ganswindt (43), currently President of IC Networks, and Rudi Lamprecht (55), President of IC Mobile, are to be appointed full members of the Managing Board of Siemens AG and, at the same time, elected as members of the Corporate Executive Committee, effective October 1, 2004. Ganswindt would then take over special responsibility for the I&C Groups from Klaus Kleinfeld, and Rudi Lamprecht would assume responsibility for Africa, the Middle East and the C.I.S. Lamprecht would also have special responsibility for Osram as well as the joint ventures Bosch und Siemens Hausgeräte and Fujitsu Siemens Computers.
The IC Mobile and IC Networks Groups are to be merged on October 1, 2004, and headed by Lothar Pauly (45). Pauly is currently a member of the Group Executive Management of IC Mobile. Details of the new organization will be announced following the Supervisory Board meeting. When Pierer takes over as Chairman of the Supervisory Board on January 27, 2005, the Corporate Executive Committee of Siemens AG will - in accordance with the Bylaws for the Managing Board - comprise nine members: Klaus Kleinfeld (46, President and CEO), Heinz-Joachim Neubürger (51, CFO), Jürgen Radomski (62, head of Personnel), as well as Johannes Feldmayer (47), Thomas Ganswindt (43), Edward G. Krubasik (60), Rudi Lamprecht (55), Uriel J. Sharef (59) and Klaus Wucherer (59). Details regarding the future assignment of special responsibilities will be announced following the Supervisory Board meeting.

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Generation change finalized for top Siemens management

Generation change finalized for top Siemens management

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