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Peter Solmssen will resign from the Managing Board of Siemens AG by mutual agreement, effective December 31, 2013. A member of the Managing Board since October 2007, Solmssen has served as General Counsel and head of the Legal and Compliance Department. In the future, the Managing Board area Legal and Compliance will be assigned to President and CEO Joe Kaeser. Andreas Christian Hoffmann will be the new General Counsel and head of the Legal and Compliance Department. He will report directly to the President and CEO.
Gerhard Cromme, Chairman of the Supervisory Board of Siemens AG, thanked Peter Solmssen for his achievements. "Mr. Solmssen joined Siemens at a difficult time and played a key role in investigating the compliance affair at our company. By establishing a strong compliance organization, he performed a major service and made important contributions to steering Siemens through a challenging phase and restoring its good reputation."
Joe Kaeser, President and CEO of Siemens AG, expressed his gratitude to Peter Solmssen for his collegiality as a member of Siemens' Managing Board. "Peter Solmssen played a central role in establishing a sustainable corporate culture of integrity which is viewed as exemplary worldwide," noted Kaeser. "This achievement will remain our benchmark and our beacon as we further align our legal and compliance organization. With Andreas Christian Hoffmann leading a highly professional team, we have the best prerequisites for undertaking this endeavor. I look forward to working with him and the Legal and Compliance team."
After studying law in Frankfurt am Main, Germany and Miami, Florida, Andreas Christian Hoffmann received his doctoral degree in Frankfurt in 1995. Following positions at various international law firms and companies, including BMW and General Electric, Hoffmann joined Siemens AG in 2008 as General Counsel for Industry Sector before moving to the company's headquarters as General Counsel Corporate and Finance in 2010.
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Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the fields of industry, energy and healthcare as well as providing infrastructure solutions, primarily for cities and metropolitan areas. For over 165 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is one of the world's largest providers of environmental technologies. Around 43 percent of its total revenue stems from green products and solutions. In fiscal 2013, which ended on September 30, 2013, revenue from continuing operations totaled €75.9 billion and income from continuing operations €4.2 billion. At the end of September 2013, Siemens had around 362,000 employees worldwide on the basis of continuing operations. Further information is available on the Internet at: http://www.siemens.com.
Reference Number: AXX20131111e
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General Counsel and Head of Legal and Compliance Siemens AG
Tel: +49 (89) 636-36558