Siemens faces management turmoil

07/30/2013 | Spiegel Online (Germany)

Siemens, long a pillar of Germany's industrial might, is torn by management conflict after issuing a shocking profit warning. The supervisory board has decided to remove CEO Peter Loescher, but he refuses to step down. Siemens has encountered problems with major jobs, including failing to deliver 16 high-speed trains urgently needed by rail operator Deutsche Bahn.

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Spiegel Online (Germany)

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