Siemens Considers Mark Schneider for Chairman Role

(Reuters) – Siemens (ETR:SIEGn) has proposed Mark Schneider, former CEO of Nestle (NS:NEST) and Fresenius SE (ETR:FREG), as a potential successor to Jim Hagemann Snabe as chairman of the supervisory board by 2027.

Current chairman Snabe mentioned, "If I am fortunate to be re-elected as Chair in February 2025, I plan to manage a transition within the next two years." He expressed confidence, stating, "I made a commitment to effectively manage my own succession and with Mark, we have an excellent candidate."

After nearly eight years, Schneider stepped down from Nestle in August. The vote regarding the supervisory board position will take place at Siemens' annual general meeting on February 13, 2025.

Additionally, Siemens proposed a dividend increase to 5.20 euros, up from 4.70 euros the previous year.