Richard Hausmann to manage the Siemens Smart Grid Applications project

Mei Wei Cheng to be new President and CEO of Siemens China and head of Northeast Asia 
siemens AXX20100453-01_072dpi.jpgSiemens AG is on track to make another two important personnel decisions. Current President and CEO of Siemens China, Richard Hausmann, 49, will assume management of the forward-looking Siemens project that deals with all aspects of Smart Grid applications. The project involves developing new products, solutions and services for intelligent power grids, including, for example, how they will interact in the future with electrically powered vehicles. Richard Hausmann was very successful in expanding business in China and more than doubled our revenue there in just five years. His experience in this highly dynamic market makes him the ideal candidate to develop new business models for Siemens in one of the most important future markets in the new energy age, said Siemens Energy CEO Wolfgang Dehen, to whom Richard Hausmann will directly report. His successor as President and CEO in China will be Mei Wei Cheng, 60, who was previously Chairman and CEO of Ford Motor in China. We intend to further expand the added value in our most important growth markets and intensify our excellent contacts with Chinese customers. Mei Wei Cheng has decades of experience and a corresponding network of contacts to successfully move us forward in a highly competitive environment, continued Dehen, who is also the Member of the Siemens Managing Board responsible for the Asia Region.

The Siemens-Energy Sector is the worlds only manufacturer with comprehensive expertise along the entire chain of energy conversion, particularly regarding interfaces such as between power plants and grids. With the new Siemens Smart Grid Applications project, the company is now expanding its expertise to the last mile of the value added chain in the area of intelligent power networks. Taking a comprehensive global approach, the integrated technology company intends to leverage its experience, for example, in energy automation and its IT expertise to comprehensively advise its customers about setting the right course for the new age of energy. We expect that this will result in promising business opportunities for the Siemens Energy and Industry Sectors as well as the IT field, says Dehen. Siemens already generates annual revenue of roughly €1 billion with Smart Grid technologies, and intends to capture about 20 percent market share by the year 2014 in a market worth €30 billion. Richard Hausmann took over as President and CEO of the Siemens Regional Organization in China in early 2005. In April 2008 he also became head of the Siemens Northeast Asia Region, which in addition to China includes Taiwan, Hong Kong, Korea, and Mongolia. His assignment is scheduled to expire end of June 2010. Under his leadership, revenue of Siemens China grew to more than €5 billion on a comparable basis. Siemens in the meantime has over 40,000 employees in China, making it the second-largest Regional Company outside of Germany, after the United States.

Mei Wei Cheng will become President and CEO of the Siemens subsidiary in China and will also head Siemens Northeast Asia region. In addition to his many years working in the automotive industry, he also worked for a number of U.S. companies, including General Electric.

On April 30, 2010, Richard Hausmann will be present together with Wolfgang Dehen at an event on the topic of electromobility in Berlin.

About Siemens

siemens logo.jpgSiemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is the worlds largest provider of environmental technologies, generating €23 billion nearly one-third of its total revenue from green products and solutions. In fiscal 2009, which ended on September 30, 2009, revenue totaled €76.7 billion and net income €2.5 billion. At the end of September 2009, Siemens had around 405,000 employees worldwide. 
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