Reinhardt to resign as Siemens Healthcare CEO

By staff writers

April 23, 2008 -- Erich Reinhardt will resign as CEO of Siemens Healthcare, effective April 30, following the discovery of a fund to pay for bribes for foreign contracts.

Reinhardt, who has never been linked to the investigation, will continue to serve the Erlangen, Germany-based company as a consultant.

Siemens expects to name 49-year-old Jim Reid-Anderson, previously the CEO of Siemens Healthcare's Diagnostics Division, as Reinhardt's successor.

In a written statement following the resignation announcement, Siemens chairman Gerhard Cromme said there is "no doubt about the personal integrity of Professor Reinhardt. Based on all that we know, he was not personally involved in any questionable activities. We have determined, however, that there was unacceptable behavior in the former Medical Solutions Group."

Reinhardt became head of Siemens Medical Solutions in 1994 and joined the managing board of Siemens AG of Berlin in September 2001. He has served as CEO of the newly created Healthcare sector since January.

Reid-Anderson previously served as executive vice president and chief financial officer of the former Dade Behring company in 1996 and was named CEO in 2000. Siemens acquired Dade Behring last year.

Siemens Healthcare last year was stung by the discovery of a fund through which bribes were paid to obtain foreign contracts. The Healthcare group acknowledged the existence of funds worth approximately $2.1 billion and agreed last October to pay a fine of $317 million.

Siemens also is the subject of an investigation by the U.S. Securities and Exchange Commission because of the developments in Germany.

Siemens completes U.K. Artis install, April 23, 2008

Siemens lands U.K. order, April 21, 2008

Siemens wins Scottish FFDM contract, April 17, 2008

Siemens opens new training center, April 15, 2008

Siemens launches wireless monitoring service, April 9, 2008

Copyright © 2008


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