Siemens AG — Board/Management Information 2007

Apr 19, 2007

News Details

Ad-hoc | 19 April 2007 22:51

Siemens AG: Pierer paves the way for personnel change

Siemens Aktiengesellschaft / Change of Personnel

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Prof. Dr. Heinrich v. Pierer, Chairman of the Supervisory Board of Siemens
AG, will vacate his position at the beginning of the Supervisory Board
meeting on April 25, 2007. A proposal will be made to the Board to elect
Dr. Gerhard Cromme as its Chairman for the remainder of the current period
of office, which expires at the Annual Shareholders’ Meeting of Siemens AG
on January 24, 2008. Prof. Michael Mirow, who was responsible for strategy
development at Siemens headquarters up to 2002, is an elected 'substitute
member' of the Board and will take Pierer’s place. A new election of all
shareholder representatives on the Supervisory Board is on the agenda of
the next Annual Shareholders’ Meeting, since the standard five-year term of
office ends on that date.

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Information and Explaination of the Issuer to this News:

'I have always believed,' said Pierer, 'that one’s duty to the company and
its well over 400,000 employees worldwide must take priority over one’s own
interests. A personal responsibility in view of the current investigations
was not the basis for my decision.'

'Despite its outstanding business performance, Siemens has run into a
difficult situation due to the in part apparent and in part alleged
misconduct of a number of managers and employees. Late last year, the
Supervisory and Managing Boards initiated a comprehensive and independent
investigation of what had occurred. The measures launched at that time are
being rigorously implemented,' said Pierer. 'The sole reason for my
decision today is to serve the best interests of Siemens. My goal is to
support the company’s sustained success, and our impressive performance
worldwide makes my decision much easier. I assume that electing a new
Chairman of the Supervisory Board will also make a contribution toward
taking our company out of the headlines and bringing it back into calrmer
waters.'

Disclaimer:
This document contains forward-looking statements and information – that
is, statements related to future, not past, events. These statements may be
identified by words as 'expects,' 'anticipates,' 'intends,' 'plans,'
'believes,' 'seeks,' 'estimates,' 'will' or words of similar meaning. Such
statements are based on our current expectations and certain assumptions,
and are, therefore, subject to certain risks and uncertainties. A variety
of factors, many of which are beyond Siemens’ control, affect its
operations, performance, business strategy and results and could cause the
actual results, performance or achievements of Siemens worldwide to be
materially different from any future results, performance or achievements
that may be expressed or implied by such forward-looking statements. For
us, particular uncertainties arise, among others, from: changes in general
economic and business conditions (including margin developments in major
business areas); the challenges of integrating major acquisitions and
implementing joint ventures and other significant portfolio measures;
changes in currency exchange rates and interest rates; introduction of
competing products or technologies by other companies; lack of acceptance
of new products or services by customers targeted by Siemens worldwide;
changes in business strategy; the outcome of investigations and legal
proceedings as well as various other factors. More detailed information
about certain of these factors is contained in Siemens’ filings with the
SEC, which are available on the Siemens website, www.siemens.com and on the
SEC’s website, www.sec.gov. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in the
relevant forward-looking statement as expected, anticipated, intended,
planned, believed sought, estimated or projected. Siemens does not intend
or assume any obligation to update or revise these forward-looking
statements in light of developments which differ from those anticipated.

Irina Pchelova
+49 89 636 33693

DGAP 19.04.2007

Language: English
Issuer: Siemens Aktiengesellschaft
Wittelsbacherplatz 2
80333 München Deutschland
Phone: +49 (0)89 636-00
Fax: +49 (0)89 636-32908
E-mail: investorrelations@siemens.com
www: www.siemens.com
ISIN: DE0007236101
WKN: 723610
Indices: DAX, EURO STOXX 50
Listed: Amtlicher Markt in Berlin-Bremen, Frankfurt (Prime Standard),
Hannover, München, Hamburg, Düsseldorf, SWX, Stuttgart;
Terminbörse EUREX; Foreign Exchange(s) London, NYSE

End of News DGAP News-Service

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