German conglomerate Siemens recently welcomed Roland Busch as its new CEO and president. The longtime business strategy executive stepped into the role last month, replacing seven-year CEO Joe Kaeser.
Roland Busch is the new president and CEO of Siemens. (Image source: Siemens)
Busch first joined Siemens in 1994 as a researcher focused on advanced energy technologies. He then ascended through various business and strategy roles before landing an executive position as head of the corporate strategy in 2008. In 2016, he became chief technology officer and a managing board member before moving up to chief operating officer in 2018, then deputy CEO in 2019.
In his positions, Busch led the company’s rail systems business and expansions in the Asia and the Middle East markets.
In a shareholder meeting last month, Busch stated that he plans to usher the company’s industry, infrastructure, transportation and healthcare solutions into the digital age, adding, “By pursuing clear strategic priorities, we’ll transform Siemens into a focused technology company that delivers sustainable growth.”
Kaeser, who announced his retirement last March, held several leadership positions at Siemens for 41 years before becoming CEO in 2013. He increased shareholder return by over 136% over his tenure, while the company’s med-tech arm, Siemens Healthineers, jumped from €28 billion to nearly €50 billion in value. Siemens Energy also increased from around €16 billion to €24 billion.
In 2014, Kaeser introduced the Vision 2020 plan, aiming to tackle the emerging value chains of electrification, automation and digitalization, while also increasing the number of employee shareholders by at least 50% to over 200,000.
Four years later, Kaeser introduced Vision 2020+ after meeting the goals of the first Vision 2020 plan. Vision 2020+ created a new company structure with gas and power, smart infrastructure and digital industries operations, along with the strategic companies, Healthineers, Gamesa and Alstom. It also aimed to increase revenue and margin targets and expand its digitalization business unit, focusing increasingly on IoT integration services.
During this time, Kaeser and then-managing board member Busch worked to improve the company’s position across its digital factory, distributed infrastructure solutions and rail automation segments.
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