A Hundred Days out

As of today, I have been out of my CEO position at Siemens AG for one hundred days. What ended on February 3rd, 2021, and started on March 1st, 1980, was a remarkable journey. In many ways. So, here I am. A happy Grandpa, busy Chairman, a mostly trusted advisor and an engaged global citizen. I never thought it would be so easy to just let go. There are reasons for that. One being that the succession planning went extremely well: handing over a meaningfully structured Siemens ecosystem to three strong CEOs. 

The Siemens ecosystem at work

The “new” Siemens AG, I left 100 days ago is stronger than ever with a well-prepared CEO, a great management and a fascinating global team. Its core businesses Digital Industries (DI), Smart Infrastructure (SI) and Mobility (MO) are doing really well, with DI standing out – widening the gap between DI as the industry leader and its competitors. Klaus Helmrich and his team have done a unique job over the last years, and I am sure his successor Cedrik Neike will further develop the future of modern digital industries. While Siemens AG is not immune against disruptive intruders, likely coming from the cloud environment of “the Microsofts and Googles”, Siemens holds the pole position. So, it’s on them to keep the lead. The traditional competitors are likely not the ones we need to have all eyes on.

Siemens Healthineers AG, which we took public in 2018, has almost doubled its peak value since then. Today, it is a well-regarded, leading Health-Tech company. With the acquisition of leading radio-therapist Varian, it has just concluded its first transformatory move. What could be a greater purpose than defeating cancer? The Healthineers are well ahead in the Siemens ecosystem. 

Siemens Energy AG, which was spun off from Siemens AG last year triggering the re-rating of the “new” Siemens AG, certainly has the hardest job in getting the structural changes and transformation done. Siemens Energy is well underway in making good on its plans and commitments to customers, shareholders and society, not least when it comes to the ever-more important Environmental, Social and Governance (ESG) goals.

The strategic concept called Vision 2020+, which we introduced in 2017, has really paid off. The concept of transforming a traditional conglomerate into focused and strong companies that can successfully master their own future. Companies, where responsibility and accountability are well developed. While not everything was perfect, it created more stakeholder value than most other companies in business and in the German DAX30. Our three companies have everything it takes to win. There are multiple challenges, yet the opportunities are much bigger. So, I am really happy and proud of my former global Siemens team of almost 400,000 colleagues altogether. They made it easy for me to let go and find new horizons.

100 days out – what’s next?

What is it like outside of a large company? Well, let me tell you: There is also life out there. And it is really good. The first 100 days out have been great – a bit busier than I thought but rewarding in the most important aspects. I have been thinking about, in all aspects, what to do with all this experience: the learnings from the mistakes made, the recipes for doing great things and building strong teams; how to handle the temptations of unprecedented power, how to deal with defeat and the sweet doses of success. Making business friends and true friends, deal with increasing conflicts between values and interests in an ever more divided world and how to weigh the pros and cons about speaking up on topics of public interest. And knowing, the emerging socio-economic divide is only the beginning in a rapidly changing world.

One of the most exciting things I had the honor to deal with as CEO was meeting people: Customers, employees, shareholders, and, of course, political and societal leaders all over the world. Fascinating ones and not so fascinating ones. And some, where the jury is still out which “category” they will develop into. I’ve met people like HRH Elizabeth II The Queen of England, the Pope, Barack Obama, as well as Vladimir Putin, Donald Trump and Recep Erdogan – and many other presidents, state leaders, writers, singers, actors, sports champions and other public figures. This also includes climate and other activists and many young global leaders. Those latter groups reminded me that it is OUR responsibility to leave a better world behind – certainly not a destroyed one. I am mentioning this, not to do name dropping. Not at all. This is about the particularities of handling responsibility, divergence of values and interests and respect.

So, what am I doing with all of this? Just letting it sit in my memory, my brain and guts? Or writing an autobiography? Neither one nor the other... Why? I have read a few books from people I have known well. I was part of some of their stories. Thus, I really knew the background, the facts and the acting people. And while reading their books, they reminded me of the title of Johann Wolfgang von Goethe’s autobiography “Dichtung und Wahrheit”, which could be translated as “Fiction and Truth”. So, no book. At least for now.

I want your input

The pandemic has taught us many lessons. One lesson is: The conflicts between values and interests in an ever-more divided world are increasing and the socio-economic gap is widening.

Will we draw the right conclusions? Will there be a better world post COVID-19? Will we change our planet for the better, at least in some areas? And speaking of the planet: There is no “Planet B”. Handling the climate crisis and solving it in an ever-more divided world – is most likely the biggest and most pressing task of our time.

So, what I am planning to do with all of this accumulated experience and “life-long learning”: Sharing it in a less conventional way. I could write about my experience, the issues that are really out there, the topics, I believe become relevant. But I would rather talk about the themes, YOU are interested in and share what I know about them. Right here on LinkedIn. My suggestion: Please tell me the topics YOU want to know about, and I will take it from there. Looking forward to your responses and feedback.

 All the very best and stay safe and healthy!

Joe