The CEO of Siemens Energy Christian Bruch was handed a contract extension by the company’s supervisory board on Wednesday (25 September).
At a regular meeting, the board members handed Bruch an additional five-year contract that will run until April 2030.
Bruch led the former Siemens AG from 2020 and has steered the company through the ongoing fallout from widespread technical issues on the 4.X and 5.X wind turbine platforms made by its subsidiary Siemens Gamesa — a context acknowledged by board chairman Joe Kaeser.
“During his first term in office, Christian Bruch has led Siemens Energy through turbulent times…
"Christian Bruch and his team have raised the conventional business to new levels, with unparalleled commitment and stopped the existential decline of the wind business. The first effects of this are already visible, and the planned return of the wind business to break even from 2026 will complete one of the largest restructuring projects in Siemens' history,” Kaser said.
He referenced recent positive financial news for both Siemens Gamesa and Siemens Energy.
Siemens Gamesa’s most recent financial report in August showed narrowing losses that were lower than expected, while Deutsche Bank said it expected share prices in Siemens Energy to rise as it continued to recommend the ‘buy’ option, stating the company’s turnaround of its wind business was “on track”.
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