Change in Executive Board of Siemens Energy AG

March 14, 2022

  ·Jochen Eickholt resigns by mutual agreement (effective February 28, 2022), to be appointed new CEO at Siemens Gamesa Renewable Energy (effective March 1, 2022)

  ·Successor to Jochen Eickholt in Siemens Energy’s executive board to be appointed in next regular Supervisory Board meeting

  The Siemens Energy Supervisory Board and Jochen Eickholt have mutually agreed to terminate his contract as Member of the Executive Board, effective February 28, 2022. Jochen Eickholt (60) has been appointed the new CEO of Siemens Gamesa Renewable Energy, effective March 1, 2022, in which Siemens Energy holds a majority stake of 67%. The Supervisory Board of Siemens Energy will appoint a successor to Jochen Eickholt very soon.

  “On behalf of the Supervisory Board, I would like to thank Jochen for his outstanding work at Siemens Energy. His proven ability to turnaround underperforming businesses and his vast leadership experience will be key elements to successfully implement the necessary changes and improvements at SGRE. I very much welcome his appointment to become the new CEO of SGRE. A leading and profitable renewable energy business is one of the cornerstones of a sustainable Energy company of the future,“ said Joe Kaeser, Chairman of the Supervisory Board of Siemens Energy.

  “As the majority shareholder we support a new start in SGRE leadership. Jochen has a long and proven track record turning around businesses in challenging situations and I wish him all the best in his new role. I would also like to thank Andreas Nauen for his hard work, focus and dedication to SGRE during his more than one and a half years with the company and his more than 20 years with Siemens Group companies,” said Christian Bruch, President and CEO of Siemens Energy.

  Jochen Eickholt joined the Siemens Energy board in January 2020 where he is responsible for the Power Generation and Industrial Applications businesses and for Asia-Pacific and China. He studied electrical engineering at the RWTH Aachen in Germany and at the Imperial College of Science, Technology and Medicine in London, UK. After receiving his engineering degree, he went on to earn his doctorate at the Fraunhofer Institute for Production Technology. Jochen Eickholt joined the Siemens Group in 1999 and has held various management positions in Germany and abroad over the years, including Chief Executive Officer of Siemens Mobility, which became the global market leader in the mobility sector under his leadership, and Chairman and Managing Partner of the Siemens Portfolio Companies.