Geee Posted August 1, 2013 Share Posted August 1, 2013 Investors Business Daily: Business: The CEO of Siemens AG, the German manufacturing giant, has been sent packing. Seems the board had it with his stewardship. Instead of making solid gains, he took the company down a green energy hole. Peter Loescher was picked from Merck & Co. in May 2007 to lead Siemens out of a troubling time. What they got was an executive who made a bet on a trendy interest and didn't get the results that were expected of him. "This weekend," Bloomberg News reported Monday, the company "lost patience after Loescher's expansion into green energy and expensive acquisitions led to a fifth profit-forecast cut." Loescher was then dismissed on Wednesday. He can't say he wasn't warned. He needed only to look at Spain, where attempts to create a green economy failed miserably. Link to comment Share on other sites More sharing options...
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