Industrial goods maker Siemens' new chief is a software veteran
Analysts say it's a good move as Siemens seeks to adapt its 19th-Century industrial heritage to the 21st Century
Munich
OVER the past 170 years, Siemens AG has forged a reputation as a manufacturer of trains, turbines and other huge things that weigh more than a house. So why is it asking a software guy to oversee the place?
Siemens on Wednesday introduced Jim Hagemann Snabe, a 51-year-old veteran of software house SAP, as its next chairman, scheduled to take effect next January, according to a statement.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results