Siemens AG, the German multinational engineering and technology conglomerate, has announced its intention to appoint Mark Schneider as the future chairman of its supervisory board. Schneider, the former CEO of Nestle and Fresenius SE, is being proposed to succeed the current chairman, Jim Hagemann Snabe, by 2027 at the latest.
Snabe, who has held the position since 2016, expressed his intention to oversee a smooth transition within the next two years, highlighting Schneider’s candidacy as “excellent.” The Siemens annual general meeting, where the official vote for the supervisory board position will occur, is scheduled for February 13, 2025.
Schneider’s appointment signifies a strategic move by Siemens to leverage his extensive leadership experience within the global consumer goods and healthcare sectors. His nearly eight-year tenure at Nestle saw the company navigate significant market shifts and maintain its position as a leading food and beverage giant.
This announcement coincides with Siemens proposing a dividend increase for shareholders. The company plans to distribute a dividend of 5.20 euros per share, up from 4.70 euros the previous year.
The selection of Schneider underlines Siemens’ commitment to strong leadership and its focus on long-term growth prospects. With his expertise and business acumen, Schneider is expected to play a key role in guiding Siemens’ future direction and navigating the evolving industrial landscape.