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A performance‐driven organization must be accompanied by an integrated risk and internal control system ...

"My declared aim is to put Siemens back on an even keel and create a high-performance team. Because as a team, we’re hard to beat. The Siemens team will provide information on the further refinement of our company programme and address the medium-term prospects and our vision for the company. You’ll see: there’ll also be a Siemens after 2014."

Joe Kaeser is the President and Chief Executive Officer of Siemens AG, a German engineering and electronics multinational company. Siemens was established in the year 1847 and is now Europe’s largest engineering company which mainly manufactures medical equipment and also other equipments for industries, energy and infrastructure. Siemens with its subsidiaries is spread over 190 countries worldwide and employs about 360,000 people with an outstanding contribution of 78.3 billion Euros to the global revenue. This company makes everything from gas to wind powered turbines, medical imaging devices and safety equipment as well. Siemens as a company also struggled a lot in order to cut costs and to raise some decent profit margins.

Joe Kaeser can be termed as the best CEO’s of Siemens, who has unquestionably strived hard to rebuild Siemens. He is one of the exceptional breed of an executive who has dedicated his entire career to one single company-Siemens. He is also a very powerful voice within the firm and has been with it while it was growing and developing into the World’s leading electronics and engineering company.

He also has a very distinctive style which has always sent waves throughout the business world, and he is one driving force behind the reorganising of the company, with one view to change the changing market demands.

Since 1980, Joe Kaeser is with Siemens and was appointed as its CEO on August 1, 2013 and has been playing a marvellous role in the over-all development of the company, concentrating more on its profitability and qualitative productivity. His efforts since 3 decades of his acquaintance with the company were recognised, and he was elected unanimously by the board members as its Chief Executive, which is a great achievement for him.

Early Days and Education

Mr. Kaeser was born on the 23rd June, 1957 in Arnbruck, in the Bavarian Forest, in Germany. He is 56 years old now. While his early education was done in Germany itself, he studied Business Administration at the Regensburg University of Applied Sciences. He also did a Diploma course at Betriebswirt. After his education, he joined Siemens AG in 1980 and continued his services to the company till date.

The Spark

Joe Kaeser, playing his efficient role as the CEO of Siemens AG, strives hard for the development and expansion of the company. He also has special responsibilities in Siemens’ Financial Operations, IT Solutions, Real Estate and Equity Investments. A few years ago from now, Siemens had many rumours and controversies on it, including issues like bribery. The efficient management and creative techniques of Kaeser brought many changes in the working of the company and its position among the other companies around the world. With this strategy, the company was able to grow to the position of No.1 engineering company in Europe. In terms of transparency and compliance, the company strives to attain the highest standards of business ethics so as to be ranked the best among others. A strategic program initiated by the company in 2007 which was designed to enhance sustainable competitiveness and shareholder value of the company is based on the ethical business values of Siemens: responsibility, intelligence, excellence and innovation.

Joe Kaeser is also one of the highest paid CEOs in the world with an annual compensation of 4,789,761 Euros as per the Fiscal Year of 2013. He is also associated with 74 board members from 7 different organisations across 13 different industries.

His Journey with DropBox

Joe Kaeser, aged 56 years, is the present CEO and President of Siemens AG. He joined the company in 1980 in its Components Group and rendered services for various departments namely Discrete Components Division, Head of Business Administration - Semiconductor Plant, Regensburg, Germany. Finance Director - Semiconductors Group, Head of Accounting & Product Planning. In 1987, he worked as the Head of Business Administration Projects for Siemens Semiconductors, Malacca, Malaysia. In 1988, he was appointed as the Head of Business Administration of Discrete Semiconductors Division, Siemens AG, Semiconductors Group. He also worked as the Head of Business Administration for the company’s Opto-Semiconductors Division in 1990. In 1995, he was appointed as the CFO and Executive Vice President of Siemens Microelectronics Inc., San José, CA, USA. From April, 2001, he became a member of the Group Executive Management of the Information and Communication Mobile Group.

He also rendered his services for the company as its Chief Strategy Officer from October 2004. He became the member of the Managing Board of Siemens AG in May, 2006. On August 1, 2013 he was elected as the President and CEO of the company by the Board members unanimously. Joe Kaeser, in his 3 decades of service to the company made many changes in the company’s management and also made his mark in the company and grew to the position of a CEO.


Fujio Mitarai is a Japanese national and married Chizuko who had taken her last breath in the year 2002. The couple has two children.

Awards & Accolades
Joe Kaeser was appointed for the Board Information and Communication Mobile in April 2001.
He was also appointed as the head of Central Unit of Corporate Strategies in October of 2004.
He was also one of the nominees for the Supervisory Board of Daimler AG.
Professional Affiliations
Daimler AG
Nokia Networks, Inc.
Siemens Aktiengesellschaft Österreich
Siemens Limited
NXP Semiconductors NV
BSH Bosch und Siemens Hausgeräte GmbH
Siemens Real Estate GmbH & Co. OHG
Fachhochschule Regensburg
Atos IT Solutions and Services Ltd.
Siemens Metering, Communications and Services
Nokia Solutions and Networks Oy
Nokia Solutions and Networks B.V.
  In the last few years, we have demonstrated that integrity and performance are not mutually exclusive and that clean business is possible in every country. And customers do accept the offers of a company when they are convinced by the benefits of the provided products and solutions. If you have the best offer, you will win the deal.
  One of the biggest changes: We made it very clear who is responsible for what. So within Siemens we have clear responsibility and accountability, and we have aligned our organizational structure and our chain‐of‐command processes accordingly: while the ‘four‐eyes principle’ has become more visible than ever in terms of internal controls and segregation of duties, we have also set a clear organizational standard on accountability for the business with the ‘CEO Principle.
  We need to make sure corporate governance clearly defines the mandatory boundaries, but then—at the same time— needs to provide space for responsible entrepreneurial behaviour.
 A performance‐driven organization must be accompanied by an integrated risk and internal control system. Siemens has been among the first Foreign Private Issuers to adopt the US Sarbanes‐Oxley (SOX) regulation, actually one year earlier than required.
  The lessons learned from the compliance crisis; its complexity and remedial size really convinced me about the need to integrate a comprehensive continuous monitoring system into our risk and control approach. If you have about 10 million transactions per day and even significantly more in ‘peak times,’ you need to have a monitoring system in place which gives the right direction to both the company and the auditors as to where to look for potential violations..
 To give you a number, when we designed the database, we had about 1,500 controls in the beginning.
  The first run—and we are talking terabytes of information—we had about one million internal control red flags in one month!..
 Trying to manage risk only on the financial results side is too late in the process. Therefore, Siemens has chosen a broad approach for its enterprise‐wide risk management and internal control system, focusing on strategic, operational, financial, and compliance perspectives. We actually leveraged this broadened system successfully during the current economic crisis..
  We don’t want to and we won’t simply give up on businesses just because they are not performing well. We have to get things in order again. And where it doesn’t make sense for reasons of prioritization, we cannot wait so long that we destroy value and that all involved must suffer through long lean periods..
  Our company is certainly not in crisis nor is it in need of major restructuring. However, we’ve been too preoccupied with ourselves lately and have lost some of our profit momentum vis-à-vis our competitors.

Hope viewers caught up the spark…