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Siemens unveils name of spin-off power company

Michael Sen will be the CEO of Siemens Energy

Siemens has unveiled the name of the new spin-off company that will comprise its conventional and renewable energy business.

It will be called Siemens Energy and will be spun off as a publicly-listed company by September 2020.

The new name was announced yesterday at an internal management conference and will officially take effect once the energy business becomes a separate legal entity, which is expected next April.

It will cover the power generation and transmission sectors, plus related services, and will be headed as chief executive by Michael Sen, who is currently co-CEO of Siemens’ Gas and Power.

Sen said yesterday that Siemens Energy “will offer innovative and reliable solutions to enable its customers to obtain the best possible energy mix”.

He added: “Climate change is real and a tremendous challenge. The demand for energy is consistently growing. At the same time, it’s imperative that we significantly reduce CO2 emissions.”

Lisa Davis, Sen’s Co-CEO of Siemens’ Gas and Power, said: “It is an exciting journey. The new Siemens Energy company will be a unique opportunity to shape the future of the world’s energy agenda.”

Siemens will play a leading role at European Utility Week and POWERGEN Europe, which are co-located in Paris next month. Click here for details

Lisa Davis: “Siemens Energy will be a unique opportunity to shape the future of the world’s energy agenda.”
Lisa Davis: “Siemens Energy will be a unique opportunity to shape the future of the world’s energy agenda.”