Siemens' Suess leaving – reports

Siemens Energy chief executive Michael Suess is resigning in the wake of the company’s strategic reorientation that will be announced tomorrow, German media outlets report.

Suess will be replaced by Lisa Davis, Shell’s executive vice president for strategy and portfolio, Germany’s Manager Magazin says in its online version, citing unnamed Siemens sources.

A Siemens Energy press official contacted by Recharge late Tuesday had no comment, but said that such a decisions could only be taken at a board meeting, which is currently still ongoing.

Siemens chief executive Joe Kaeser tomorrow morning will present a major restructuring of its business units. While the company doesn’t disclose any details beforehand, German media has said Siemens’ current four sectors will likely be replaced by close to ten smaller business units.

Kaeser tomorrow is also expected to comment on his plans to formulate a bid for the energy business of French rival Alstom, which would set out to thwart GE’s $17bn previous bid.

Siemens has until the end of May to visit Alstom’s data room and carry out due diligence for a counter-bid.

While Alstom’s board has already said it favours GE’s offer, the French government is opposed to it, and is pressuring Alstom to give a possible Siemens bid equal chances.

Siemens tomorrow will also announce results for its second quarter that ended March 31.