Siemens AG To Realign Regional Organization - Quick Facts

(RTTNews) - Siemens AG (SI) announced the company will eliminate its current regional cluster setup. The realignment will eliminate an organizational level, and the various countries will be more closely geared to the business of the Sectors.

Joe Kaeser, President and CEO of Siemens AG, said, "Eliminating the clusters will make Siemens more streamlined and closer to the markets. We're substantially strengthening our regions, whose heads are our customers' most important contacts."

Siemens said, the countries which are most important for Siemens - based on their business volume and growth prospects - will report directly to the four Managing Board members who are responsible for the Energy, Healthcare, Industry and Infrastructure & Cities Sectors. These lead countries account for more than 85 percent of the company's revenue, and smaller countries will report directly to them. As part of the realignment of the regional organization, Managing Board responsibility for the various regions will also be reassigned, the company said.

Siemens also announced the Mergers & Acquisitions Department, currently a part of Corporate Finance, will be transferred to Corporate Development. The new corporate unit Governance & Markets will combine governance and capital market functions.

The company's internal consulting unit, Siemens Management Consulting, will be integrated into the strategy department. The currently centrally managed sales unit Siemens One and its city account managers will become part of the Infrastructure & Cities Sector.