Siemens to replace CEO Peter Löscher

[Rainman05]

Siemens to replace CEO Peter Löscher | Journal | DW.DE | 28.07.2013

German engineering company Siemens has sacked its CEO Peter Loescher, after another profit warning and repeated delays of major projects. Loescher had been the first head appointed from outside the firm in its history.

German engineering giant Siemens has said it will be replacing its chief executive, Peter Löscher. The CEO has been under fire for a series of mishaps including failing to meet profit targets.

On Thursday, Siemens issued another profit warning, the second in three months. The company said it no longer expected, "to achieve a total sectors profit margin of at least 12 percent by fiscal 2014 as aimed for in the Siemens 2014 company program."

This is huge.
If Siemens loses out on the green energy market, it could mean billions of euros in future revenue. Especially as the world is moving towards green energy. Wind energy is no joke. it's big business and big market and hence, competition is fierce.

The rail industry could also see a comeback as rail transportation can be done without oil use and hence, nations with advanced railroad transportation can cut oil imports and oil consumption. I do believe the railroad industry will make a comeback in the years to come, let alone develop aggressively in many countries where it hasn't already... or where it has dropped out of favor in past years. Biggest markets for railroad development are even the USA, China and Russia. Secondly I imagine Ukraine (2nd largest rail network in Europe after Russia), Brazil, Argentina, South Africa, Turkey.