GERMANY -- Siemens has appointed the new President and CEO and Supervisory Board Chairman at the Annual Shareholders' Meeting.

Roland Busch (56) has succeeded the long-serving President and CEO Joe Kaeser (63) as head of the Munich-based technology company. At the company's virtual Annual Shareholders' Meeting on February 3, the shareholders also confirmed by a large majority the Supervisory Board Chairman Jim Hagemann Snabe (55) for another four-year term of office.

The shareholders also elected Grazia Vittadini (51) as Chief Technology Officer of Airbus and member of the Airbus Executive Committee and Kasper Rørsted (58) as CEO of adidas AG, first-time Supervisory Board members, likewise by large majorities. Their terms of office will run for four years.

Joe Kaeser will stand for reelection to Siemens Energy AG's Supervisory Board at its Annual Shareholders' Meeting on February 10, 2021, and for reelection as the Supervisory Board's Chairman at the Board's constituent meeting immediately afterward.

Shareholders approved the distribution of a dividend of €3.50 per share for fiscal 2020 as proposed by the Managing and Supervisory Boards.

Source: Siemens