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    Siemens names new boss

    euronews (in English)

    by euronews (in English)

    1 599 views
    It's all change at the top at German engineering group Siemens.

    Out goes CEO Peter Loescher. He has been dumped four years before the end of his contract, though his departure is cushioned by a multi-million euro payoff.

    He has been replaced by Siemens finance chief Joe Kaeser who said
    the conglomerate had been too inward looking and so had lost some of its "profit momentum".