Siemens' New CEO Loescher Replaces Kleinfeld

Friday, 29 Jun 2007 | 7:22 AM ET

Nokia said Klaus Kleinfeld, the president and chief executive of Siemens, has resigned from the board of Nokia Siemens Networks, as of July 1.

Kleinfeld will be replaced by Peter Loescher, who will take the helm at Siemens as president and chief executive from the same date.

Shares in Siemens traded down 0.2% at 105.80 euros on Germany's DAX index.

  Price   Change %Change


Contact U.S. News


    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video

  • Mad Money's Jim Cramer discusses Micron Technology and how the company gained control over inventory issues. The bears expect the company's history to repeat itself, but Cramer says this time, it feels different.

  • In this excerpt from a live CNBC interview, Warren Buffett explains why it's extremely unusual for a company's directors to vote against executive compensation plans.

  • Mad Money host Jim Cramer says shareholder activism works for every shareholder, and offers his take on the Valeant/Bill Ackman bid to acquire Allergan. The market is better off for these efforts, he says.