Siemens Large Drives Applications
Change of leadership and new drive company
Effective January 1, 2023, Michael Reichle has been appointed CEO of the Siemens Portfolio Company Large Drives Applications (LDA). Reichle will also take over as CEO of the new integrated motors and large drives company to be founded this year.
- Michael Reichle is the new CEO of Siemens Large Drives Applications and will become CEO of the newly formed integrated motors and large drives company later this year.
- The previous CEO, Hermann Kleinod, will remain an integral part of the global LDA management team.
- Christoph Salentin continues to serve as CFO of Siemens LDA.
Effective January 1, 2023, Michael Reichle has been appointed CEO of the Siemens Portfolio Company Large Drives Applications (LDA). Reichle will also take over as CEO of the new integrated motors and large drives company to be founded this year.
Michael Reichle 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 LDA develops and produces high-performance electrical drive systems for the medium and high voltage range: electric motors, converters and generators.
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. Michael Reichle will then lead the company as CEO.
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, according to Siemens.
