• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
Loading...
See More

First woman on Siemens board to leave

Nov 21 2012 19:46 Reuters

Related Articles

Siemens wins contract in South Korea

Nokia Siemens in SA to cut jobs

Siemens misses operating profit target

SA cities get 'green light'; litter abounds

GE, Siemens, Carlyle bid for SA firm

State in bid to end Siemens contract

 
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
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Fewer high-risk election areas - Mthethwa

There are fewer high-risk election areas this year compared to past elections, Police Minister Nathi Mthethwa has said while visiting Manenberg in Cape Town.

 
 

Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

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