Siemens Taps Ex-Nestle CEO Schneider For Board, Potential Chair

Siemens AG is proposing that Mark Schneider, former chief executive officer of Nestle SA and Fresenius SE, join its supervisory board with the plan of later becoming chairman.

Schneider will be nominated for a four-year term at Siemens’ annual shareholder meeting in February, the company said, replacing Martina Merz who is stepping down.

Mark Schneider

Photographer: Hollie Adams/Bloomberg

If elected, Schneider would be set up to succeed Chairman Jim Hagemann Snabe, who is being nominated for a two year-extension. Snabe said in a statement he plans to manage a transition to Schneider within the next two years, calling him an “excellent candidate.” ...