Siemens restructures for power and smart infrastructure : Page 2 of 2

August 03, 2018 // By Nick Flaherty
Siemens restructures for power and smart infrastructure
Siemens has re-structured itself into three operating companies and separate joint venture operations to capitalise on the move to smart city infrastructure and power.

The Vision 2020 programme, launched in 2014, has been largely completed. "We've worked very hard over the past four years. Today, nearly all our businesses are significantly more profitable, customer satisfaction is at a record high, and our Digital Factory is the market leader in industrial digitalization," said Kaeser. "The speed and power of global changes are increasing, and it's our obligation to anticipate them. We're convinced that this is the right time to sustainably shape our future. By further developing our strategy, we're building the next-generation Siemens."

"It won't be the biggest companies that survive, but the most adaptable. That's why we'll further deepen the understanding of our Ownership Culture and give our businesses considerably more entrepreneurial responsibility than before. This also includes the direct assignment of business-related functions," he said.

The new structure will go into effect at the start of the new fiscal year on October 1, 2018. The implementation is expected to be completed by March 31, 2019.

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