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Siemens AG expands executive board with return of Michael Sen

by Thomas Dworetzky, Contributing Reporter | December 06, 2016
Business Affairs
It looks like Siemens' 20-year veteran, Michael Sen, is heading back to the company after only a brief time at E.ON, the German power utility he went to as finance head.

E.ON confirmed last week that Sen was returning to Siemens.

"He worked for Siemens for many years, so it is understandable that he wants to accept this offer," E.ON emailed Reuters.

He will make the move after the utility company finishes its 2016 financial results.

“Sen has been appointed to the Managing Board of Siemens AG, effective April 1, 2017. In this position, he will be responsible for Siemens Healthcare. He will also assume responsibility for Global Services (GS) from CFO Ralf P. Thomas,” according to a Siemens statement.

"We're very pleased to have acquired Michael Sen for our Managing Board team, where he'll be responsible for the important separately managed unit Siemens Healthcare, and our companywide Global Services unit,” said Gerhard Cromme, chairman of the supervisory board of Siemens AG.

The moves, which expand the board, are part of an “acceleration” of the Vision 2020 plan, according to the company.

Siemens Healthcare unveiled its new brand name Siemens Healthineers in May.

“We have an exceptional track record of engineering and scientific excellence and are consistently at the forefront of developing innovative clinical solutions that enable providers to offer efficient, high quality patient care. Going forward as Siemens Healthineers, we will leverage this expertise to provide a wider range of customized clinical solutions that support our customers business holistically. We are confident in our capability to become their inspiring partner on our customers’ journey to success”, explained Bernd Montag, CEO of the company. “Our new brand is a bold signal for our ambition and expresses our identity as a people company – 45,000 employees worldwide who are passionate about empowering health care providers to optimally serve their patients.”

In November it announced its plans to take the Healthineers public.

"Health care technology is a highly attractive business in which we want to further expand our leading position. With this step, we continue to implement Vision 2020, launched in May 2014. The public listing will give Healthineers even more focus and flexibility in pursuing its growth strategy," said Kaeser at the time, according to HCB News.

"The public listing is a key lever for reaching our strategic goal of being THE enabler for health care providers worldwide," said Montag, adding that "greater entrepreneurial freedom and agility will allow us to help shape the development of the global health care market and the growth strategies of successful health care providers. We'll enable our customers to participate successfully in the trends toward consolidation, industrialization and holistic health management with a high degree of clinical relevance, efficient workflows and financial value added."

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