Siemens (SI), troubled by bribery scandals, has named a new CEO, Peter Loescher. He currently runs a division of Merck (MRK) and was an executive at GE (GE). Loescher’s background is primarily in running healthcare operations.
The choice of a former GE employee is telling. Siemens, often viewed as the conglomerate that most mirrors GE, has handily outperformed the US company in the stock market. Over the last two years, Siemen’s stock is up about 45%, which GE is up only 8%.
While GE is in the midst off selling its plastics unit, very few on Wall St. have been much impressed by the company’s decision making since Jack Welch left the company.
Douglas A. McIntyre
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