Siemens expands management board to enhance AI integration

Siemens is set to expand its management board from five to seven members in a strategic move to accelerate its transition towards a technology-focused enterprise. The company announced that Peter Koerte, head of strategy and technology, and Veronika Bienert, head of Siemens Financial Services, will join the board on 1 October. This expansion is seen as a response to Siemens’ significant scale, with 324,000 employees and €80 billion in revenue, necessitating a larger leadership team to drive growth.

Supervisory Board Chairman Jim Hagemann Snabe, who has held his position since 2018, will seek reelection for another two-year term in February. Snabe emphasised that Siemens prioritises AI as a key focus, aiming to leverage AI for industrial applications to stay ahead of competitors. Peter Koerte, in his new role on the management board, is expected to be instrumental in this AI-driven strategy.

In addition to the new appointments, Siemens confirmed that Cedrik Neike, head of the Digital Industries division, will have his contract extended by five years. The company also hinted at future leadership changes, noting that Veronika Bienert could be a potential successor to the current CFO, Ralf Thomas, who plans to retire in 2026. However, Snabe stated it was too early for a formal discussion on this succession.