Siemens has appointed Tim Holt to replace Randy Zwirn as chief executive of its Power Generation Services division.

Holt (46) is currently is chief executive of the Power and Gas unit within the Power Generation Services division and he will take Tim Holt, Siemensup his new role in October when Zwirn retires.

Siemens board member Lisa Davis said Holt’s “many years of experience make him the perfect successor. His expertise will enable him to continue to achieve advances in the development of innovative, data-driven service offerings.”

She said Zwirn retirement meant that Siemens was “losing a highly experienced leader who has played a major role in shaping our Siemens service business and the digital trends of the future”.

“He’s had a strong influence on the development of the power generation business at Siemens for nearly twenty years.”

Holt graduated from Technische Universität Berlin with an engineering degree in aerospace technology and received an MBA from Northwestern University’s Kellogg School of Management in Illinois.