Word: kleinfeld
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...ranks of Siemens' multicultural community were certainly rooting for Kleinfeld and a weakening of what remains of the German Old Boy network in Munich. With the executives of the Von Pierer era either retired or under investigation, Kleinfeld was supposed to have had a free hand to go about cleaning up the company from the inside and to take his restructuring drive to the next level. But the past had one blast left, and it got Kleinfeld...
...accept these terms because there was the constant threat that these jobs would go to Hungary if we didn't," says Wolfgang Mueller, who was IG Metall union's representative on the Siemens supervisory board at the time. The concession didn't help much. When Kleinfeld took over in 2005, he jettisoned the handset business, selling it to Taiwan's BenQ, which shut it down a year later, embarrassing Kleinfeld and sparking protests from workers and politicians...
...Kleinfeld wasn't done with telecom though. He put the struggling telecommunications-equipment business into a joint venture with Nokia, creating Nokia Siemens Networks, the No. 2 manufacturer in its industry. The rationale was simple: in a rapidly globalizing telecom business, with distinctions between fixed line and wireless disappearing, Siemens had to get the scale to compete. "It's No. 2 from the start, and that's a big win," Kleinfeld told TIME. "We'll have a true opportunity to be one of the top players in the industry...
...take Ajit Singh, 43, a computer scientist who grew up in northern India and moved to the U.S., where he joined Siemens in 1989. There he worked closely with Kleinfeld and has been one of the people driving Siemens' development of medical scanners that use digital image processing for the early detection of disease. Singh explains that a doctor could take digital images of a beating heart and compare them with images of a healthy heart and determine if there is an anomaly, often long before symptoms of an impending heart attack appear. Last year he moved from San Francisco...
Julian Mitchell, an analyst with Credit Suisse, applauds Kleinfeld for sorting out the bad businesses in the company's portfolio but says Siemens--no matter who runs it--still has a lot of work to do. "The next phase is all about improving execution in the core areas of the company, the areas the company is good at, like power and automation and health care, and then further streamlining the portfolio," he says...