• Growing people

    What is the most powerful way to develop the capabilities of people at work? Ian Mann answers.

  • Wealth and poverty

    True riches would be to create a safe and satisfied community for all South Africans.

  • SABC shenanigans

    SA has already embarked on a slippery slope to autocracy, warns Terry Bell in Inside Labour.

All data is delayed
Loading...
See More

First woman on Siemens board to leave

Nov 21 2012 19:46
Reuters
Munich - Siemens' procurement chief Barbara Kux looks set to leave the company in 2013, five years after becoming the German engineering conglomerate's first female top manager.

Ranked fourth on Fortune's list of the 50 most powerful women in business outside the United States for a third year running, Kux previously worked at Philips, Ford, ABB, Nestlé and McKinsey.

But two people familiar with the matter told Reuters on Wednesday that Siemens' supervisory board will not renew Kux's contract. Siemens commonly decides whether to extend the contracts of top managers about a year before they run out.

The news, flagged earlier by German daily Financial Times Deutschland, comes as a surprise as procurement is expected to play a major role in Chief Executive Peter Loescher's new €6bn savings drive.

Kux came to Siemens from Philips in late 2008, a move that had German newspapers proclaiming "the womanless age at Siemens is over".

Corporate management is still heavily dominated by men in Germany, Europe's largest economy. Today only 4% of top German managers are female compared with an OECD average of 10%. Meanwhile, no more than 15% of German supervisory board members are female.

Deutsche Lufthansa earlier this year became the first German blue chip company to pick a woman as finance chief. Deutsche Post and BMW have also appointed women to their boards this year.

Only months before Kux's appointment Loescher had told a newspaper he felt his company's top management was too German, too white and too male for its own good.

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE SAVINGS ISSUE

Saving can make a lot of things possible, but we all know how hard it is to save. This special Savings Issue will help you get focused.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Have you experienced FNB’s outage problem?

Previous results · Suggest a vote

Loading...