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Peter Loescher became president en CEO of Siemens in 2007. His background in healthcare must have been one of the elements that Siemens was looking for. Healthcare is one of the three main sectors of Siemens’ focus (next to energy and industry).

The official Curriculum of Loescher starts with the fact that he was born in 1957 in Austria. “He studied at the Vienna University and the Chinese University of Hong Kong (not mentioned what subject) achieved an MBA in Vienna University and an “AMP” from Harvard Business School (1).

His first job (at an age of 31) in 1988 was as a (senior) Management Consultant (1).

From then he entered the healthcare / pharmaceutical sector starting as a managing (director) at Hoechst Roussel Veterinaria in Spain to become later President and CEO of Hoechst Marion Roussel, in Japan (in 2000).

He continued in the pharmaceutical sector as the chairman, President and CEO of Aventis Pharma Ltd. in Japan in 2002. Than, president of Amersham Health, Chief Operating Officer and member of the Board of Directors in 2004. The company Amersham was acquired by GE (healthcare) of which Loescher becomes President and CEO (of GE Healthcare Bio-Sciences).

His latest position before joining Siemens was at Merck & Co. Inc. (President of Global Human Health until July 2007).

Some of the main characteristics in this curriculum are:

- main experience in a single business sector: healthcare / pharmaceutical. Which shows the importance of specific knowledge.

- international experience (studies abroad, management experience in Europe, Japan, etc)

- (therefore) experience with different cultures

- predominantly experience with large (blue chip) corporations

- extensive study before entering the market (at an age of 31).

An outsider.

“Scandal-battered Siemens has turned to an outsider in its search for a new chief executive, naming a top U.S. healthcare industry executive as its new leader on Sunday.” (2)

“The company has been very self-contained. Loescher will need to build a powerbase for himself and then ensure his acceptance.” (2)

Siemens preferred an external candidate “to ensure a new chief executive would not be drawn into ongoing investigations into bribery allegations.” Currently these allegations have been processed to a claim of 800 million dollar.

“I am convinced that Mr. Loescher has what it takes to steer Siemens through its current difficulties and into a better future.”

Apparently the step to Siemens is seen in the market as a career move. But with a dual benefit; siemens was looking for an outsider and Loescher a next step on the career ladder. Siemens is one of the few global “trains-to-lightbulbs” (2) conglomerates in the world. And the question is what will happen to it?

Healthcare will stay for sure, but will the energy and industry divisions remain within the conglomerate?

H.J.B.

(1) – Siemens website

(2) – http://www.reuters.com/article/businessNews/idUSWEA303020070520

© 2008 Hans Bool

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