German industrial conglomerate Siemens will set higher profitability targets for most of its businesses to reach by 2010, it said on Thursday, a day after Chief Executive Klaus Kleinfeld resigned.
"We are introducing a new programme, 'Fit for 2010', with ambitious targets for growth, capital efficiency and cash conversion at the corporate level, and with higher margin ranges at a majority of our groups," Siemens said in a statement.
The trains-to-lightbulbs conglomerate, which is battling a series of corruption investigations, was expected to give more details of the new targets later on Thursday.
Siemens confirmed all divisions had reached their margin targets in the fiscal second quarter to the end of March, as promised by Kleinfeld shortly after he became CEO two years ago.
Factory-automation unit Automation and Drives, Power Transmission and Distribution, healthcare unit Medical Solutions and automotive unit VDO -- a business which is to be listed or sold -- all beat their targets.