Siemens board to name Ackermann's successor on Wednesday -sources

Tue Sep 17, 2013 1:29pm EDT
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FRANKFURT (Reuters) - The supervisory board of Germany's Siemens (SIEGn.DE: Quote) will on Wednesday name a successor for Josef Ackermann, who has said he will step down from the board, two people familiar with the matter said on Tuesday.

In a separate development the board is also set to announce that human resources chief Brigitte Ederer will leave the company at the end of the month, at the behest of German workers' union IG Metall, according to a report in Austria's Kronen Zeitung newspaper.

The company declined to comment.

Ackermann, former chief executive of Deutsche Bank (DBKGn.DE: Quote), said last week he would give up his post as second deputy chairman on Siemens' supervisory board.

The board has picked an industry expert, who is not German, to replace Ackermann, the sources said on Tuesday. They did not provide further details on who the successor will be.

That would mean that Linde (LING.DE: Quote) Chief Executive Wolfgang Reitzle, who has been named by German media as a likely candidate for a board seat, is out of the running for now.

Ackermann will probably not attend Wednesday's meeting where his successor will be named, the sources said.

The new board member will assume Ackermann's seat but will not automatically replace him as second deputy to Chairman Gerhard Cromme, one of the two people said.

The supervisory board is also expected to discuss the selection of a new chief financial officer to replace Joe Kaeser, who was named chief executive last month.   Continued...

Former Deutsche Bank Chief Executive Josef Ackermann is surrounded by media as he arrives for a book presentation in Berlin, September 12, 2013. REUTERS/Thomas Peter