Siemens proposes Jim Hagemann Snabe for election as next Chairman of its Supervisory Board

– GERMANY, Munich – Siemens AG (Xetra:SIE)’s Nominating Committee of its Supervisory Board, has recommended Jim Hagemann Snabe for the office of Supervisory Board Chairman. Siemens’ Supervisory Board unanimously endorsed this recommendation at its meeting on Tuesday. The regular elections to Siemens’ Supervisory Board will take place at the company’s Annual Shareholders’ Meeting on January 31, 2018. Mr. Snabe is to be elected Chairman at the Supervisory Board’s constitutive meeting immediately thereafter.

“Digitalization poses major challenges for society and for companies. With its magnificent, innovative products, Siemens is very successful in today’s market. However, the digitalization transformation is also changing our business. Mr. Snabe has in-depth industry expertise in software and digitalization. This recommendation sets the course for long-term succession planning and continuity in Siemens’ Supervisory Board,” said Gerhard Cromme, Chairman of the Supervisory Board of Siemens AG, whose mandate will expire at the end of the 2018 Annual Shareholders’ Meeting.

To ensure that he will have sufficient time for his duties as Siemens’ Supervisory Board Chairman, Snabe intends to reduce the number of his supervisory board positions by the Annual Shareholders’ Meeting in 2018. “I’m pleased by the recommendation and the trust shown in me by my Supervisory Board colleagues. To help shape the future of Siemens and to continue the successful cooperation in the Supervisory Board in this new position will be a great responsibility,” said Snabe.

About Siemens AG

Siemens AG is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. The company is active in more than 200 countries, focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. The company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2016, which ended on September 30, 2016, Siemens generated revenue of €79.6 billion and net income of €5.6 billion. At the end of September 2016, the company had around 351,000 employees worldwide.

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