Siemens AG CEO to leave

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Chief Executive Klaus Kleinfeld of Berlin and Munich headquartered Siemens AG announced yesterday that he will not renew his contract, the AP reports. There is no indication of a replacement as yet.

The company’s supervisory board had recently announced a desire to postpone contract extension talks with Kleinfeld.

This has occurred with a backdrop of scandals in Europe regarding ongoing investigations into alleged bribes to secure telecommunications deals for Siemens, AP reports.

At no point has Kleinfeld been suspected of having had involvement in the misconduct.

“In times like these, the company needs clarity about its leadership. I have therefore decided not to make myself available for an extension of my contract,” Kleinfeld said in a released statement. “The company must have complete freedom of action.”

In other news, Siemens named a new board chairman — Gerhard Cromme — to begin work effective immediately.

Siemens AG is the parent company of Siemens Medical Solutions.