New Siemens CEO to<br>optimize company structure

In order to optimize and speed up the company Siemens new CEO Peter Loescher has started his work at Siemens by announcing a major rearrangement program. The company's 475.000 employees are going to be arranged as efficient and the company's business portfolio will be sharpened. Presently, the company embraces ten business divisions, several regional branches and dozens of country subsidiaries. One of the businesses, Siemens VDO is expected to be subject to an IPO this autumn. Continental has earlier announced its interest to acquire Siemens VDO. How this will end is yet to see. A business policy work will also be launched in order to get rid of the bribery within the staff.