Siemens' decision to separate and spin off its struggling gas and power business is intended to strengthen the group's remaining businesses, Chief Executive Joe Kaeser said on Wednesday. "It is about further developing a company which is changing fundamentally," Kaeser told a news conference about the decision to separate the business that has struggled with collapsing demand for large gas turbines as customers switch to renewable energy sources. Many companies dream of being in situation Siemens is in," he said.
Comments