Sunday, May 20, 2007

Merck's Loescher to be Siemens' first outsider CEO

(Reuters) - Siemens hopes Austrian-born Peter Loescher, a top U.S. healthcare executive who is relatively unknown in Germany, will restore the tarnished reputation of Siemens, which is battling multiple investigations into suspected bribery and corruption.




Current CEO Klaus Kleinfeld tendered his resignation last month after failing to receive clear backing from the supervisory board, which feared Kleinfeld could yet become implicated in the course of the investigations.


Read more at Reuters.com Business News

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