Home > companies > Siemens AG names Sunil Mathur as India CEO

Mumbai: As a part of its leadership restructuring, engineering major Siemens AG has appointed Sunil Mathur as chief executive officer of its Indian unit, Siemens Ltd.

Mathur, a chartered accountant, is currently the chief financial officer of Indian unit and he will succeed Armin Bruck.

“Bruck is moving from India to Singapore, where he has been appointed chief executive officer of Siemen’s regional company in this country," Siemens said in a statement.

The statement said Mathur has held a variety of positions at Siemens over the past 25 years.

He was appointed as the cluster chief financial officer for South Asia in July 2008 and has been the executive director and chief financial officer of Siemens since December 2008.

As a part of restructuring, the current chief executive officer of Singapore unit, Lothar Herrmann has been named to head Siemens China.

The Siemens Group in India comprises of 13 companies, providing direct employment to over 19,000 persons. Currently, the group has 21 manufacturing plants.

Mathur is taking over the top position when construction and capital goods companies such as its rival Larsen and Toubro Ltd have been hit hard by slowing growth in Asia’s third largest economy, where many projects have also been stalled by bureaucratic red tape, high borrowing costs, and delays in achieving financial closure.

Economic growth slowed to 5% in the year ended 31 March, the slowest in a decade, and 4.4% in the quarter ended 30 June.

Factory output data released on 11 October showed that output in the capital goods segment, which represents investment demand in the economy, contracted 2% in August.

On 17 October, as a part of realignment, Siemens said it will eliminate its current regional cluster setup, which will give the individual countries more competences in the future as the company intends to intensify its customer access and expand its regional business.

“Eliminating the clusters will make Siemens more streamlined and closer to the markets. We’re substantially strengthening our regions, whose heads are our customers’ most important contacts," stated Joe Kaeser, president and chief executive officer of Siemens AG had said.

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