Siemens Corp. CEO Eric Spiegel leaves at short notice

  • Signs for push-out forces
  • After almost seven years on the job
  • Laud, praise and thanks for Spiegel
  • Lisa Davis takes over

(management-change.com) — Washington, November 30, 2016 — Eric Spiegel, chief executive of Siemens Corporation, leaves. It is a change at short notice. As announced by Siemens in a news release on Wednesday, November 30, 2016, Eric A. Spiegel, Chief Executive Officer at Siemens Corporation, leaves the technology company in a surprising move after almost seven years on the job, effective January 01, 2017.

Spiegel’s duties are taken over by Lisa Davis, currently Member of the Managing Board of Siemens AG.

Siemens Corporation is a U.S. subsidiary of Siemens AG.

The move is part of a management shake-up at Siemens AG.

“As the new Administration and Congress begin to outline their priorities”

Spiegel’s imminent departure is explained as follows. Spiegel said in a fairly blunt statement: “As the new Administration and Congress begin to outline their priorities, the time is right for Lisa and Judy to guide the company’s outreach and engagement from day one.”

Siemens said: “The appointment of Managing Board member Davis to head this Regional Company underscores the importance of the U.S., which is Siemens’ single largest market by revenue.”

“Will leave the company”

Siemens said: Spiegel “will leave the company at the end of the year”.

Precise information about the future plans of Spiegel was not immediately available.

Chaired by Gerhard Cromme

Siemens AG is chaired by Gerhard Cromme.

Joe Kaeser serves as CEO of Siemens AG. Kaeser has been the Chief Executive Officer and President for Siemens Aktiengesellschaft since August 1, 2013.

On the job as CEO since 2010

Spiegel has been the Chief Executive Officer and President for Siemens Corporation since January 18, 2010.

Eric Spiegel is the President and CEO of Siemens USA and is responsible for growing the U.S. business in the company’s largest market.

With over $22.4 billion in sales including $5.5 billion exports and approximately 50,000 employees in the U.S., Siemens is a global powerhouse focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of systems for power generation and transmission as well as medical diagnosis.

Siemens has over 89 major manufacturing sites across the U.S. and is represented in all 50 states.

Spiegel joined Siemens in January 2010 after 25 years of global consulting experience with complex organizations in the oil and gas, power, chemical, water, industrial and automotive fields.

From 1999-2003, he served as the Managing Director of Booz Allen Hamilton International while living in Tokyo.

This role included managing the firm’s business in Asia, Latin America and the Middle East.

He was an original member of the Board of Directors for Booz & Company and was previously a member of the Board of Directors for Booz Allen Hamilton, Inc. From 2008-2010, Spiegel was a senior partner and served as the Managing Partner of Booz & Company’s Global Energy, Chemicals and Power consulting practice and led the firm’s Washington D.C. office.

Earlier in his career, Spiegel worked at Brown Boveri (now ABB) and Temple, Barker & Sloane, Inc. (now Oliver Wyman).

An expert on the global energy industry, Spiegel co-authored the 2009 book Energy Shift: Game-changing Options for Fueling the Future.

Spiegel holds an MBA from the Tuck School of Business at Dartmouth College where he was an Edward Tuck Scholar and received his A.B. with Honors in Economics from Harvard University.

He is the Chairman of Ford’s Theatre Society Board in Washington, D.C. and a member of The Board of Overseers at Dartmouth’s Tuck School of Business and the Board of Trustees at Rollins College. He is also a Director of Liberty Mutual Holding Company, Inc., and a member of the President’s Advanced Manufacturing Partnership Steering Committee.

Signs for push-out forces

It is not completely certain what forces eventually triggered Eric A. Spiegel’s move.

The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.

Read the full story in the management-change.com report 45.2016 ($).