Siemens boss Peter Loescher to go after poor results
BERLIN, Germany (AFP) - German engineering giant Siemens announced late Saturday that chief executive Peter Loescher was to be fired after failing to get the company back on track.
In a brief statement, the company said it would "decide on the early departure of the President and CEO" and the appointment of his replacement at a meeting on Wednesday.
The company is due to report its third-quarter results next Thursday.
Mr Loescher, 55, has led the company since 2007, but his pending departure comes just a few days after the surprise announcement of a profit warning.