Siemens Reduces Stake in Siemens Energy
December 19 2023 - 1:57AM
Dow Jones News
By Pierre Bertrand
Siemens has further lowered its participation in Siemens Energy,
transferring 8% of its stake in the company to its pension
trust.
The German industrial group said that it has lowered its holding
in Siemens Energy to 17.1% from 25.1% previously, the company said
late Monday.
Siemens said the move will strengthen Siemens' pension assets in
Germany. The company had long planned to reduce its participation
in Siemens Energy.
Siemens had last transferred a portion of its Siemens Energy
stake to the Siemens pension fund back in June. Siemens
Pension-Trust e.V. independently manages Siemens's pension funds,
Siemens said.
In addition, the company said that Siemens chief financial
officer Ralf P. Thomas will step down from the Siemens Energy
supervisory board. His resignation will be effective from the end
of Siemens Energy's annual shareholders' meeting on Feb. 26.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
December 19, 2023 01:42 ET (06:42 GMT)
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