Siemens Names Managing Partner for Portfolio Companies
April 01 2019 - 6:18AM
Dow Jones News
By Nathan Allen
Siemens AG (SIE.XE) said Monday that it has named Klaus Patzak
as managing partner for its portfolio companies unit, effective
immediately.
The German industrial group formed the unit last year by
bundling together several disparate businesses that weren't an
obvious fit with its main operations.
Activities grouped under the unit include the manufacture of
mechanical drive systems, electrical drives for dump trucks,
postal-logistics systems and electric vehicles among others.
In 2018 portfolio companies generated pro forma revenue of 5
billion euros ($5.61 billion).
Mr. Patzak has previously served as chief financial officer of
Bilfinger SE (GBF.XE) and Osram Licht AG (OSR.XE). More recently he
has worked as Siemens's head of finance and controlling.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
April 01, 2019 06:03 ET (10:03 GMT)
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