Mark Schneider, the former chief executive of Nestlé, has been nominated for election to the supervisory board of Siemens, with a view to him being named as chairman of the board in 2027.
In a statement to announce details of its annual shareholders meeting, scheduled for 13 February 2025, Siemens announced that it was proposing extending the term of the current chair of the supervisory board, Jim Hagemann Snabe, for a two-year period.
Schneider, meanwhile, is being proposed for election to the board for a four-year term, as a 'potential successor' to Snabe.
'Tremendous Value'
“With the proposed appointments, we will ensure continuation of a strong supervisory board, while improving the staggered timing of appointments," Snabe commented. "I strongly believe that Mark Schneider will bring tremendous value to the supervisory board of Siemens AG. His global experience in business transformation and passion for technology are a strong fit for Siemens.
"If I am fortunate to be reelected as chair in February 2025, I plan to manage a transition within the next two years. I made a commitment to effectively manage my own succession, and with Mark, we have an excellent candidate.”
Mark Schneider
As well as leading Nestlé, Schneider also held executive roles at Haniel Group, Fresenius Medical Care and Fresenius SE & Co. In a statement, Siemens said that he has a 'track record of growth, portfolio transformation and driving sustainability impact'.
Commenting on his departure from Nestlé in September, where he was replaced in the top role by Laurent Freixe, Schneider said, "Leading Nestlé for the past eight years has been an honour for me. I am grateful for what we have achieved, having transformed Nestlé into a future-proofed, innovative and sustainable business."
