Finance
Siemens board to make decision on new chairman no later than 2027
Published by Global Banking & Finance Review®
Posted on February 4, 2026
2 min readLast updated: February 4, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 4, 2026
2 min readLast updated: February 4, 2026
Siemens plans to decide on a new chairman by 2027, with Mark Schneider as the designated successor to Jim Hagemann Snabe. The decision will be finalized by February 2027.
ZURICH, Feb 4 (Reuters) - Former Nestle CEO Mark Schneider may have to wait until 2027 to become chairman of Siemens, the German engineering group's current chairman said in comments prepared for next week's shareholder meeting.
Schneider, who led Nestle from 2017 to 2024, joined Siemens' supervisory board last year as the designated successor to Jim Hagemann Snabe.
"Mark Schneider, as designated successor for the role of Chairman, has made valuable contributions to our discussions," Snabe said in remarks prepared for Siemens' AGM due to be held on February 12 in Munich, the company's first in-person shareholder meeting since 2020.
"The entire Supervisory Board will make the final decision by February 2027 at the latest," he added.
Snabe, a former chairman of Danish logistics company AP Moller-Maersk, has been a member of the Siemens supervisory board since 2013 and chairman since 2018, with some investors saying his long tenure means he is no longer independent.
His contract was extended for two more years in 2025.
"Understanding a corporation like Siemens takes time," Snabe told Reuters in December 2024 when Schneider was proposed to join the Siemens board.
(Reporting by John Revill. Editing by Mark Potter)
A supervisory board is a group of individuals elected to oversee the activities of a company, ensuring that it operates in the best interests of its shareholders and complies with legal and regulatory requirements.
Corporate governance refers to the systems, principles, and processes by which a company is directed and controlled, focusing on the relationships among stakeholders and the goals of the organization.
The chairman leads the board of directors, ensuring effective governance and oversight of the company’s management, facilitating board meetings, and representing the company to stakeholders.
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