• Klaus Helmrich to retire at end of March 2021 after 35 years at Siemens

• Cedrik Neike to succeed Helmrich as Managing Board member responsible for Digital Industries, effective October 1, 2020

• Matthias Rebellius to succeed Neike as Managing Board member responsible for Smart Infrastructure, effective the same date

• Effective October 1, 2020, Roland Busch to assume responsibility for fiscal 2021 as previously announced; Joe Kaeser to actively support transition and hand over CEO role to Busch upon completion of Annual Shareholders’ Meeting in 2021

• Succession process now concluded for Siemens AG’s leadership team with new Managing Board set up under leadership of Roland Busch, effective October 1, 2020, to lead next phase of Siemens’ transformation

Klaus Helmrich (62), the Managing Board member responsible for Digital Industries (DI), will retire upon expiration of his contract at the end of March 2021 after 35 years at the company. Cedrik Neike (47), the Managing Board member currently responsible for Smart Infrastructure (SI), will succeed him as of October 1, 2020. Matthias Rebellius (55) – currently SI’s Chief Operating Officer (COO) – has been appointed to the Managing Board and will assume responsibility for this unit.

With these moves, Siemens is completing the future Managing Board team under the leadership of designated CEO Dr. Roland Busch (55), effective October 1, 2020. On that date, Busch and his entire Managing Board team will – as previously announced – assume responsibility for the business activities of the future Siemens AG and thus for fiscal 2021. As planned, Joe Kaeser will transfer his role as CEO to Roland Busch at the company’s Annual Shareholders’ Meeting in February 2021.

“The Supervisory Board and Managing Board would like to thank Klaus Helmrich very warmly for his many years of extraordinary service to Siemens and for enabling Digital Industries’ to achieve its market-leading position. Klaus Helmrich will fulfill his contract as planned and, together with Cedrik Neike, ensure an optimal transition,” said Jim Hagemann Snabe, Chairman of the Supervisory Board of Siemens AG.

“Today’s decisions complete another step in the structured succession planning to set up the Managing Board of Siemens AG for the future,” continued Snabe. “With these assignments and Judith Wiese’s previously announced appointment to Siemens’ Managing Board as Chief Human Resources Officer, we have successfully concluded the realignment of Siemens AG, including the succession process for the Managing Board, and have paved the way for the company’s continued successful development.”

Matthias Rebellius has been appointed to the Managing Board for a five-year term. As COO of SI, he has been instrumental in successfully integrating the individual parts of SI’s business over the past few years.

As a result of these decisions, the Siemens Managing Board will comprise the following members as of October 1, 2020: Joe Kaeser (until he leaves the company in February 2021), Roland Busch, Ralf Thomas, Judith Wiese, Cedrik Neike, Matthias Rebellius and Klaus Helmrich (until he leaves the company in March 2021). “At this stage, I’d like to express my very special appreciation to Joe Kaeser for his active support in the succession process,” added Snabe.