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Home BUSINESSSiemens boss fired for poor operating performance
Mon, 29 Jul, 2013 12:03:21 AM
FTimes News Desk, July 29
German industrial giant Siemens CEO Peter Löscher has been forced to resign due to the company's poor performance, news agency STT reported quoting AFP and Reuters. 
Siemens issued a profit warning on Thursday in the second. 
Siemens announced that its President and CEO was fired on Saturday. 
The company was tight-lipped, in a statement, but critics of Löscher said Siemens, increased the lead  in 2007after the CEO has managed to achieve the performance targets and "promised to continue too much." 
Thursday's profit warning came after Löscher still assured the public of exports to the end of his term of office. 
His contract was due to run until 2017. 
Löscher’s successor is to be selected on Wednesday. He is said to come from inside the company.
According to Reuters sources, the strongest candidate for the top post is Joe Kaeser.
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