Effective January 1, 2023, Michael Reichle has been appointed CEO of Siemens Portfolio Company Large Drives Applications (LDA). He succeeds Hermann Kleinod, who will remain an integral part of the global LDA management team. As CEO, Reichle assumes all areas of responsibility of his predecessor.

Reichle joined Siemens in 1997 and has held various management and CEO positions in recent years, including CEO of the independent Portfolio Company Siemens Logistics since 2014. He has more than 25 years of management experience.

"Siemens Large Drives Applications has excellent potential. With our dedicated employees, we are very well positioned worldwide. We offer our customers an outstanding and innovative portfolio," said Reichle. "I am looking forward to my new role and at the same time, approach the opportunity with great respect."

Reichle will also take over as CEO of the new integrated motors and large drives company to be founded. At its annual press conference on November 17, 2022, Siemens announced that it would combine its Large Drives Applications, Low Voltage Motors, Geared Motors, Weiss Spindeltechnologie and Sykatec business units under a single roof. The planned new company is to operate under its own legal form and outside the core business of Siemens AG; its headquarters are to be in Germany.

"Together with his strong team, Michael Reichle has achieved the turnaround and excellent realignment of the Siemens Logistics business as CEO of Siemens Logistics," said Horst J. Kayser, Chairman of Siemens Portfolio Companies. "As a leader with strong international and cross-industry experience, Michael Reichle is also the perfect choice for the role as CEO of the new integrated motors and large drives champion."

Christoph Salentin will remain CFO of LDA and will then also assume responsibility as CFO for the new company. As CFO, Salentin is making a significant contribution to achieving the turnaround and continuous improvement of LDA's business processes and has played a key role in leading LDA to become an independent company over the past year.