Busch to Take Over Early as Siemens CEO in October

(Bloomberg) --

Roland Busch will take over as Siemens AG’s chief executive officer from Joe Kaeser in early October, a German newspaper reported.

Although Kaeser’s contract runs until January next year, Oct. 1 would be the logical moment for him to make way for Busch, who is his deputy, the Frankfurter Allgemeine Sonntagszeitung reported, citing sources close to the supervisory board it did not identify.

Busch has been designated to head budget planning and implementation for the company’s 2021 fiscal year and will assume “all relevant duties on Oct. 1” in the company’s executive team, Siemens said in an emailed statement.

Siemens named Busch to succeed Kaeser in March, and said two senior managers would depart after a dispute over strategy.

The Munich-based company has previously said Busch would take over as CEO by Feb. 3.

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