Siemens has announced that its shareholders have approved several key decisions during the recent Annual Shareholders' Meeting. The term of office for Jim Hagemann Snabe, chairman of the Supervisory Board, has been extended by two years. Werner Brandt, chairman of the Audit Committee and deputy chairman of the Supervisory Board, will continue in his role until 2029. Kasper Rørsted and Grazia Vittadini were both reelected for another four-year term.
Mark Schneider, former CEO of Nestlé S.A. and Fresenius SE & Co. KGaA, was elected as a new member of the Supervisory Board with a four-year term. He is seen as a potential successor to Jim Hagemann Snabe as chairman. Martina Merz has stepped down from her position on the board to pursue another opportunity, while employee representative Bettina Haller will leave at the end of February 13, 2025.
Jim Hagemann Snabe commented on Siemens' achievements over the past four years: "Over the past four years, Siemens has achieved impressive successes: strong, profitable growth, consolidation of its technological leadership position, and groundbreaking progress in sustainability." He expressed satisfaction with his reappointment: "I’m very pleased that my appointment has been extended."
Roland Busch, president and CEO of Siemens AG, highlighted the company's financial performance: "Last year, Siemens once again proved its leadership as a technology company with considerable value creation for all our stakeholders." He noted an increase in dividends to €5.20 per share.
Despite positive experiences with virtual meetings in previous years and support from 71.10 percent of shareholders for holding future meetings online under agenda item 9, Siemens did not achieve the three-quarters majority needed to amend its Articles of Association.
Jim Hagemann Snabe addressed this outcome: “Although the required 75 percent majority for the possibility of holding virtual Annual Shareholders’ Meetings was missed today...we take the criticism...very seriously.”