One of his first tasks will be to hire a new chief compliance officer to succeed Daniel Noa, a former German prosecutor, who left the post last month after only six months on the job.
“Performance with ethics - this is not a contradiction, it is a must,” he said. Löscher vowed to investigate any wrongdoing and “draw the necessary consequences.” Löscher is a former executive with the American pharmaceutical maker Merck. He spoke relatively little about the bribery scandal, which reached deeply into Siemens and prompted the company’s board to replace Klaus Kleinfeld, after he had served less than three years as chief executive. He will also visit Siemens operations in Russia and the Persian Gulf. He will head first to China, India and Japan - countries where he said the company had unrealized potential - after a brief stop in his native Austria. Löscher, the first Siemens chief to come from outside the company, will embark on a whirlwind tour of Siemens businesses. Löscher said in Berlin, where he was attending a meeting with the German chancellor, Angela Merkel. “In the fall, I’ll present our conclusions to the supervisory board, with these goals in mind: clear lines of responsibility, a high level of transparency and maximum speed,” Mr. Löscher said the business structures and regional divisions would come under scrutiny as he prepared a new organizational plan. The company and German prosecutors are investigating those payments. The complexity of the company’s far-flung operations, which are divided by both product category - like power plant equipment, medical devices and light bulbs - and by geographic region, is believed to have helped employees hide 420 million euros ($570 million) in suspicious payments. BERLIN, July 5 - Peter Löscher, the new chief executive of the engineering conglomerate Siemens, said Thursday that a top priority for his first 100 days on the job would be to simplify the byzantine organizational structure that may have contributed to a bribery scandal.
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