Siemens Confirms Extension of CEO Roland Busch’s Tenure and Targets Digital Expansion

Siemens Confirms Extension of CEO Roland Busch’s Tenure and Targets Digital Expansion

Siemens Confirms Extension of CEO Roland Busch’s Tenure and Targets Digital Expansion

Siemens has announced the renewal of Chief Executive Roland Busch‘s contract for an additional five years, confirming the company’s continued confidence in his leadership. 

Since taking the helm in 2021, Busch’s tenure has now been extended until April 2025 by the supervisory board. 

Siemens Confirms Extension of CEO Roland Busch’s Tenure and Targets Digital Expansion

Under his guidance, the 59-year-old German executive, who took over from Joe Kaeser, led Siemens to achieve a record net profit of 8.5 billion euros ($9.23 billion) in 2023, navigating through an extensive order backlog accumulated during the pandemic and its subsequent period.

The board’s decision to renew Busch’s contract underscores its endorsement of his vision for Siemens’ transformation into a digital and technology-driven enterprise. 

Aiming to increase the proportion of software and digital sales to about 20% of total business in the long run, Busch has steered Siemens towards adopting a software as a service (SaaS) model to attract smaller customers. “Siemens has the right strategy and the right leadership team to support future growth and success, building on a track record of outstanding operational execution and technology leadership,” said Chairman Jim Snabe.

Additionally, Siemens plans to renew the contract of Cedrik Neike, who leads the Digital Industries factory automation division, for another five years starting June 2025, further solidifying its leadership structure for future advancements.

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