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Siemens proposes former Nestle CEO Schneider as supervisory board head from 2027

Published 12/11/2024, 10:10 AM
Updated 12/11/2024, 10:16 AM
© Reuters. FILE PHOTO: The logo of German industrial group Siemens is seen at an office building in Zug, Switzerland December 1, 2021. REUTERS/Arnd Wiegmann/File Photo
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(Reuters) - Former Nestle (NS:NEST) and Fresenius SE (ETR:FREG) CEO Mark Schneider could succeed Jim Hagemann Snabe as chairman of the supervisory board of Siemens (ETR:SIEGn) by 2027 at the latest, Siemens said on Wednesday, proposing Schneider's election.

"If I am fortunate to be re-elected as Chair in February 2025, I plan to manage a transition within the next two years," current chairman Snabe said in a statement.

"I made a commitment to effectively manage my own succession and with Mark, we have an excellent candidate," he added.

Schneider left Nestle in August when he was replaced as CEO after nearly eight years.

© Reuters. FILE PHOTO: The logo of German industrial group Siemens is seen at an office building in Zug, Switzerland December 1, 2021. REUTERS/Arnd Wiegmann/File Photo

Siemens' annual general meeting, at which voting for the supervisory board position will be held, is set for February 13 2025.

Siemens also proposed a dividend of 5.20 euros, up from 4.70 euros in the year prior.

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