Siemens AG is asserting claims for damages against former members of the former Corporate Executive Committee of the Managing Board of Siemens AG. The company bases its claims on breaches of their organizational and supervisory duties in view of the accusations of illegal business practices and extensive bribery that occurred in the course of international business transactions in the years 2003 to 2006 and the resulting financial burdens to the company. The claims are being asserted, on the basis of currently available information, against Prof. Johannes Feldmayer, Dr. Thomas Ganswindt, Dr. Klaus Kleinfeld, Prof. Dr. Edward G. Krubasik, Rudi Lamprecht, Heinz-Joachim Neubürger, Prof. Dr. Heinrich v. Pierer, Dr. Jürgen Radomski, Dr. Uriel Sharef and Prof. Dr. Klaus Wucherer. The Supervisory Board of Siemens AG adopted a resolution to this effect at its meeting on July 29.
In addition, the company will also assert claims for damages against former Corporate Executive Committee members Prof. Johannes Feldmayer and Dr. Günter Wilhelm in connection with payments to Wilhelm Schelsky and his companies.
The eleven former members of the Corporate Executive Committee named above will be given an opportunity to state their positions on the accusations before legal action for damages is taken.
Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. The company has around 400,000 employees (in continuing operations) working to develop and manufacture products, design and install complex systems and projects, and tailor a wide range of solutions for individual requirements. For more than 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. In fiscal 2007, Siemens had revenue of €72.4 billion and income from continuing operations of €3.9 billion (IFRS).