Siemens Adopts Vision 2020 - Quick Facts

(RTTNews) - The Supervisory Board of Siemens AG (SI) Tuesday approved the Siemens Vision 2020 which, according to the company, will position itself along identified growth fields including electrification, automation and digitalization.

As part of these measures, Siemens is acquiring the Rolls-Royce Energy aero-derivative gas turbine and compressor business for about 950 million euros. The acquisition strengthens the company's position in the growing oil and gas industry as well as in the field of decentralized power generation.

Siemens will also pay an additional 240 million euros to get exclusive access to future Rolls-Royce aero-turbine technology developments in the 4 to 85 megawatt power output range as well as preferred access to supply and engineering services.

The company also said that the organization will be streamlined by eliminating the Sector level and bundling business into nine Divisions instead of the current 16. The healthcare business will also be separately managed in the future.

These measures are expected to increase productivity by approximately 1 billion euros a year, and are to be fully effective by the end of fiscal 2016.

As part of its realignment, The Supervisory Board of Siemens AG has named Lisa Davis to the Managing Board, effective August 1. Lisa is currently Executive Vice President Strategy, Portfolio and Alternative Energies at Royal Dutch Shell.

In her new role, Lisa will be responsible on the Managing Board for the Power and Gas Division, the Wind Power and Renewables Division, the Power Generation Services Division, the Region North America and the Region South America.

Additionally, Klaus Helmrich and Siegfried Russwurm will exchange their current responsibilities: Siegfried Russwurm will be the company's new Chief Technology Officer and Labor Director, while Klaus Helmrich will be responsible for the Digital Factory Division, the Process Industries and Drives Division, the Region Europe and the Region Africa.

Roland Busch will have responsibility for the Building Technologies Division and the newly formed Mobility and Energy Management Divisions and will remain responsible for the Region Asia/Australia.