Siemens to Streamline Structure in Strategic Overhaul
01 Agosto 2018 - 7:29PM
Dow Jones News
By Nathan Allen
Siemens AG (SIE.XE) will overhaul its existing divisional
structure as part of a sweeping realignment aimed at sharpening the
group's focus and boosting efficiency, the company said
Wednesday.
The group will fold the operations of its five main industrial
divisions into three new operating companies that will be called:
Gas and Power, Smart Infrastructure and Digital Industries, the
German company said.
These will operate alongside Siemens Gamesa Renewable Energy SA
(SGRE.MC), Siemens Healthineers AG (SHL.XE), and another new
company that will be formed through the merger of Alstom SA
(ALO.FR) and Siemens Mobility.
Siemens AG said the aim of the plan is to boost efficiency
across the group by giving greater autonomy to individual
units.
"Less management from headquarters and more freedom for our
businesses will make us stronger and more flexible," Chief
Executive Joe Kaeser said.
The new structure, which comes into effect from Oct. 1, should
boost annual revenue growth and profit margins at the industrial
business by 2% over the medium term, Siemens AG said.
Basic earnings per share should grow faster than revenue over
the medium term, the company said.
In addition, Siemens AG said it has agreed to buy
specialist-software developer Mendix for 600 million euros ($702.5
million). It is the first investment in a planned push to bolster
the company's portfolio in high-growth fields such as
distributed-energy management and infrastructure solutions for
electric mobility.
"It won't be the biggest companies that survive, but the most
adaptable," Mr. Kaeser said.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
August 01, 2018 13:14 ET (17:14 GMT)
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