The timeline for former Nestle CEO Mark Schneider's transition to the head of the Siemens Supervisory Board has been finalized. Schneider is set to succeed the incumbent, Jim Hagemann Snabe, following the Annual General Meeting on February 11, 2027, Siemens announced on Tuesday following a board meeting. While it has been clear for eighteen months that Schneider was slated to succeed Snabe, the 2027 AGM was considered the latest possible date for the handover. Snabe, a former SAP executive, sought to dispel doubts regarding the qualifications of Schneider, whom he personally recruited: 'He is the ideal candidate. He will do a very, very good job,' Snabe told 'Handelsblatt'. He added that Schneider has integrated well and now understands the company and its culture.

Nathalie von Siemens, representing the founding family on the Supervisory Board, also voiced her support for Schneider in 'Handelsblatt'. 'The Siemens family has full confidence in the company's processes and the leadership figures selected through them. This applies particularly to Mark Schneider.' Like Snabe, von Siemens will step down from the board in 2027 after twelve years. Christoph von Seidel is expected to succeed her, representing the family, which still holds a six percent stake.

To address investor concerns regarding Schneider's lack of technological expertise, Ola Rollén is expected to provide that competency on the board, Snabe told the newspaper. The 61-year-old Rollén served as CEO of the Swedish technology firm Hexagon until 2022. The third newcomer to the Siemens Supervisory Board starting in 2027 will be Marion Helmes. According to her LinkedIn profile, the former Celesio CEO already serves on the boards of Siemens Healthineers, Heineken, and Lonza. She is set to replace Benoit Potier at Siemens.

(Reporting by Alexander Hübner. Editing by Olaf Brenner. For inquiries, please contact our editorial office at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)