Management Changes

Siemens Names Founder's Heir to Board

Siemens logo repairs work in progress Source DPA 41371807
Siemens: a work in progress.
  • Why it matters

    Why it matters

    The appointment of Nathalie von Siemens to the supervisory board has the potential to expedite overdue change at the electronics firm.

  • Facts

    Facts

    • Natalie von Siemens is the first woman and direct descendant of founder Werner von Siemens to take a lead role in the company.
    • Siemens is in the process of buying U.S. fracking equipment maker Dresser-Rand for $6.4 billion to strengthen its energy operations.
    • The German company reported a 25 percent drop in first-quarter profit, and its shares fell more than 3 percent on Tuesday.
  • Audio

    Audio

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Siemens shareholders today appointed the great-great granddaughter of the company’s founder, Werner von Siemens, to take on what could be a role in transforming the perennially underperforming electronics group.

Nathalie von Siemens, a 43-year-old, is expected to be named by shareholders today to Siemens’ non-executive supervisory board, which hires and fires the chief executive and approves major restructurings. The company was founded in 1847 by Mr. von Siemens, an inventor who patented the process for gold-plating.

His numerous heirs still own a combined 6 percent of the company.

Ms. von Siemens will replace another Siemens heir on the supervisory panel, Gerd von Brandenstein, whose mother’s last name was von Siemens. Mr. von Brandenstein had joined the board in 2008 and is also responsible for Siemens’ asset management. Mr. von Brandenstein is a descendant of the brother of the company’s founder.

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