Change of leadership at Siemens Large Drives Applications
Michael Reichle has been appointed CEO of Siemens Portfolio Company Large Drives Applications (LDA) with effect from 1 January 2023. He succeeds Hermann Kleinod, who will remain an integral part of the global LDA management team. As CEO, Reichle assumes all areas of responsibility of his predecessor.
Michael Reichle has been with Siemens since 1997 and has held various management and CEO positions in recent years, including CEO of the independent portfolio company Siemens Logistics since 2014. He has more than 25 years of management experience.
"Siemens Large Drives Applications has excellent potential. With our dedicated employees, we are very well positioned worldwide and offer our customers an outstanding, innovative portfolio," said Reichle. "I am looking forward to the new task and at the same time approach it with great respect."
Reichle is also to take over as CEO of the new integrated engines and large drives company to be established. At its annual press conference on 17 November 2022, Siemens had announced that it would combine its Large Drives Applications, Low Voltage Motors, Geared Motors, Weiss Spindeltechnologie and Sykatec business units under one roof. The planned new company is to operate under its own legal form and outside the core business of Siemens AG, with headquarters in Germany.
"Together with his strong team, Michael Reichle as CEO of Siemens Logistics has achieved the turnaround and excellent realignment of the Siemens Logistics business," said Horst J. Kayser, Chairman of Siemens Portfolio Companies. "As a leader with strong international and cross-industry experience, Michael Reichle is also the perfect choice for the role as CEO of the new integrated engines and large drives champion."
Christoph Salentin will remain CFO of LDA and will then also assume responsibility as CFO for the new company. As CFO, Salentin has been instrumental in achieving the turnaround and continuous improvement of LDA's business processes and has been instrumental in driving LDA's carve-out process over the past year.