
German industrial conglomerate Siemens AG has named Peter Löscher as its new president and CEO, replacing Klaus Kleinfeld, who announced in April that he is stepping down.
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| Peter Löscher, new president and CEO of Siemens AG. Image courtesy of Siemens. |
Siemens, the parent of Siemens Medical Solutions of Erlangen, Germany, announced on April 25 that Kleinfeld would not be renewing his contract when it expires on October 1. Kleinfeld will officially step down on June 30, Siemens said.
Siemens has become entangled in a series of corporate corruption scandals under Kleinfeld's watch, although he has not been implicated.
By AuntMinnie.com staff writers
May 21, 2007
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