From Matt Daily at Reuters, RE: Klaus Kleinfeld, Siemens and Alcoa.

-- MDT

Labels: Alcoa, Klaus Kleinfeld, Siemens

Klaus Kleinfeld has announced that he will resign from Siemens, a result of the explosive bribery investigation that continues to dog the manufacturing firm (if not the company's stock price). Kleinfled had not, as yet, been implicated in any wrong doing, but he did have his enemies on the board Siemens board, who have apparently used this as an opportunity to force his ouster.

At least that's the story the FT is tellin'.

-- MDT

Labels: bribery, corporate scandal, Klaus Kleinfeld, Siemens

While a Siemens internal investigation found no evidence implicating CEO Klaus Kleinfeld in the recent bribery scandal, there is apparently still great pressure for him to step down. The German Financial Times has reported that Siemens' supervisory board is pushing for a new chief executive to replace Kleinfeld. Deutsche Bank CEO Josef Ackerman, a key member of the Siemens board is apparently spearheading the push against Kleinfeld.

-- MDT

Labels: bribery, corporate scandal, Josef Ackerman, Klaus Kleinfeld, Siemens

Thomas Ganswindt - the former head of Siemens telecom equipment division. Before his dependence on the insistent hospitality of European law enforcement, Ganswindt reported directly to Siemen's chief exec Klaus Kleinfeld and served on Siemen's central executive board. Ganswindt left Seimans back in September and had most recently served as CEO of Elster Group based out of Luxembourg. Further details on Ganswindt and the ongling Siemens bribery investigation can be found here.

-- MDT

Labels: bribery, Elster Group, Klaus Kleinfeld, Siemens, Thomas Ganswindt