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Ackermann to step down from Siemens board - reports

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September 12
5:45 AM 2013

A Reuters report cited a source who said Former Deutsche Bank AG Chief Executive Officer Josef Ackermann has planned to step down from his post in Siemens AG's supervisory board as deputy chairman. The source disclosed that the reason why Ackermann wanted to step down was the disagreements over former CEO Peter Loescher's ouster. The company's Finance Chief Joe Kaeser replaced Loescher as CEO of Siemens.

German national centre-right wing paper Frankfurter Allgemeine Zeitung (FAZ) also cited sources that Ackermann would be stepping down from his post as deputy chairman on September 18 at a meeting of the supervisory board. FAZ also mentioned that Peter Solmseen, Siemens compliance head, would also be leaving the executive board.

Since Loescher took the position as Siemen's CEO, the company's shares had dropped 15%. Siemens value is now at EUR77 billion euros or USD102 billion following a 0.4% drop in share price as of 9:30AM today in the Frankfurt bourse.

When Reuters asked Siemens about the reports, a presentative declined to comment. Ackermann's spokesperson did not response to the news agency's request for comment either.

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