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Siemens MD to step down

Mumbai, Dec. 24: Siemens India managing director Juergen Schubert, who is credited with bringing the company back in the black, will resign on January 1, 2008.

The resignation was approved by the company’s board at its meeting held on December 20, 2007, Siemens has informed the Bombay Stock Exchange.

Armin Bruck, a whole-time director who has been responsible for the energy business in India since October 2007, will succeed Schubert.

“Schubert has said he wants to take it easy and spend time with his family,” a company spokesperson said.

Schubert, who spearheaded Siemens for nearly 12 years, is credited with restructuring the company and taking it on a highly profitable growth path.

Schubert came to India in 1996 when Siemens was passing through a difficult time. Within the first few weeks, he outlined a restructuring programme relating to the company’s business portfolio, human resources, gross turnover and productivity. The company returned to profits in just two years.

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