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Siemens: Michael Peter To Be Siemens Mobility's Sole CEO, Effective July 10

Siemens AG (SIEGY.PK,SMAWF) announced Thursday that Michael Peter will be Siemens Mobility's sole CEO, effective July 10. Sabrina Soussan, Co-CEO until now, will leave the company at her own request to take on a new challenge outside Siemens.

Soussan will remain available to Siemens Mobility in an advisory capacity until her contract ends on December 31.

Peter heads the turnkey solutions and rail electrification businesses, and is responsible for rail automation and road-traffic management systems. He will now also head the functions in the rolling stock area and customers services that Soussan has been responsible for until now.

Roland Busch, member of the Managing Board and Deputy CEO of Siemens, responsible for Siemens Mobility, said, "With Michael Peter as CEO, Siemens Mobility has a recognized expert for transportation, automation and digitalization at its helm. ... For customers and employees, he stands for continuity in the top management of this successful area of business."

For the past 25 years, Peter has served in various capacities at Siemens in countries including Germany, Spain, Thailand and the U.S.

Soussan has been working at Siemens for more than 20 years in a variety of positions in Germany, France, Japan, the UK and Switzerland.

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