ZURICH, Feb 4 (Reuters) - Former Nestle CEO Mark Schneider may have to wait until 2027 to become chairman of Siemens, the German engineering group's current chairman said in comments prepared for next
Siemens board to make decision on new chairman no later than 2027
Siemens Chairman Transition
ZURICH, Feb 4 (Reuters) - Former Nestle CEO Mark Schneider may have to wait until 2027 to become chairman of Siemens, the German engineering group's current chairman said in comments prepared for next week's shareholder meeting.
Mark Schneider's Role
Schneider, who led Nestle from 2017 to 2024, joined Siemens' supervisory board last year as the designated successor to Jim Hagemann Snabe.
Current Chairman's Tenure
"Mark Schneider, as designated successor for the role of Chairman, has made valuable contributions to our discussions," Snabe said in remarks prepared for Siemens' AGM due to be held on February 12 in Munich, the company's first in-person shareholder meeting since 2020.
Decision Timeline
"The entire Supervisory Board will make the final decision by February 2027 at the latest," he added.
Snabe, a former chairman of Danish logistics company AP Moller-Maersk, has been a member of the Siemens supervisory board since 2013 and chairman since 2018, with some investors saying his long tenure means he is no longer independent.
His contract was extended for two more years in 2025.
"Understanding a corporation like Siemens takes time," Snabe told Reuters in December 2024 when Schneider was proposed to join the Siemens board.
(Reporting by John Revill. Editing by Mark Potter)
