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Electronics Production | October 03, 2006

Siemens bosses under pressure after BenQ's insolvency announcement

Many people in Germany have showed their anger on the German electronics giant Siemens lately.

The reason for the criticism is that Siemens sold out its loss making mobile unit to BenQ but now is handing over heavy bonuses to the Siemens bosses. Heinrich von Pierer, Siemens' supervisory board chairman, tried to justify the move with a reference to a top football team. "At Siemens, we are playing in the Champions League, not in the Bavarian local league. And like Bayern Munich, we will only attract the top staff if we pay the right sort of money," he said.
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