FRANKFURT (Reuters) - The supervisory board of Germany’s Siemens SIEGn.DE at its meeting on Wednesday will name a successor for Josef Ackermann, who has said he would step down from the body, two people familiar with the matter said.
Ackermann, former chief executive of Deutsche Bank DBKGn.DE, 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, who will probably not attend the meeting, the sources said on Tuesday. They did not provide further details on who the successor will be.
That would mean that Linde LING.DE 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.
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.
Reporting by Jens Hack and Philipp Halstrick; Writing by Maria Sheahan; Editing by Anthony Barker