Siemens is reportedly streamlining its executive ranks as part of its “One Tech Company” initiative, leading to the abolition of hundreds of senior titles. CEO Roland Busch and the management board informed the affected managers during an internal call on Thursday afternoon, according to the “Handelsblatt” citing company sources.
Many individuals impacted by the restructuring are expected to receive new titles, such as “Head of.” or “Managing Director.” Sources indicated that the matter is considered sensitive internally, as many managers hold significant attachment to their current titles. In total, there are approximately 300 CEOs and CFOs within Siemens’ business units and regional organizations.
According to industry reports, the corporation is transitioning away from being a collection of numerous, separate major entities and is instead establishing itself as an integrated technology conglomerate. This cultural shift must also be enacted at the highest level of management. Participants in the call reported that Busch described this change as part of a larger evolution-possibly the most significant transformation Siemens has ever undergone: the development into a cohesive “One Tech Company.”
The new structure for Siemens is slated to begin implementation on October 1st. However, many managers remain uncertain about their future titles and responsibilities, a factor that has caused considerable unrest within the established company over the past few weeks.
