The board of Siemens (SI) left its CEO in limbo. While the company’s financial and stock performance is good, the firm has had an ongoing corruption investigation. The board made it clear that Klaus Kleinfeld, who has decided to leave rather than continue to debate with the board, was not involved in any of these problems.
Kleinfeld follows the company’s chairman, who also left. The company’s stock is up over 30% in the last year, handily out-pacing rival GE (GE), but shares are down 3% on the news.
That’s what you getting for doing a good job.
Douglas A. McIntyre
Douglas A. McIntyre
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