Siemens Energy: Founding family withdraws as major shareholder

The family is represented on the Siemens Supervisory Board:

Nathalie von Siemens, the

founder's great-great-granddaughter

Photo: Siemens Foundation

The Siemens founding family has withdrawn as a major shareholder from the recently spun off Siemens sister company Siemens Energy.

In contrast to the Dax heavyweight Siemens, the descendants of the company founders around Werner von Siemens no longer appear as major and anchor shareholders at the first Energy Annual General Meeting tomorrow, Wednesday, as research by manager magazin shows.

About 300 family members have held a total of 6.0 percent or a little more in Siemens AG, founded in 1847, through various vehicles;

this emerges from information provided by Siemens AG, the data provider Refinitiv and the ISS proxy.

The founding family has always pooled their votes and is therefore Siemens' largest shareholder alongside the world's largest asset manager Blackrock.

Because of their long-term commitment to their commitment to Siemens, the clan also has a seat on the twenty-member Siemens Supervisory Board, which is held by

Nathalie von Siemens

(50)

, the founding great-granddaughter

.

With the spin-off of the Siemens energy business at the end of September, the family members received a total of around 3.5 percent of the Siemens Energy shares booked into their depots.

Since they exceeded the reporting threshold of 3 percent, they should actually have reported the proportion, as lawyers confirmed to manager magazin.

The fact that the report was not made allows only two conclusions: The clan immediately sold at least 3.6 million Siemens Energy shares or more in order to get below the 3 percent threshold.

And / or the descendants have no longer concluded a pool contract for the Energy shares.

Since then, both of these have made it possible for them to sell additional energy shares without any reporting requirements and thus unnoticed.

Siemens Energy shares have so far gained around 40 percent

more on the subject

• Energy transition: Siemens Energy boss Christian Bruch cuts 7800 jobs

• Shares bullish: Siemens Energy and Siemens Gamesa return to the black

• Hubert Lienhard becomes second powerful man on the supervisory board: Joe Kaeser accommodates critical investors at Siemens Energy by Angela Maier

• Change of power at Siemens Annual General Meeting: What distinguishes Roland Busch from Joe Kaeser from Angela Maier

Von Siemens Vermögensverwaltung left mm questions unanswered and only announced on Tuesday that the family still held Energy shares: "The members of the Siemens family have followed the process of the spin-off and listing of Siemens Energy AG with great interest and have a long-term view Opportunities for the company. They will be present together with their votes at the Annual General Meeting of Siemens Energy AG. "

The fact is: A joint commitment of the clan as a major shareholder of Siemens Energy, comparable to that of Siemens AG, will no longer exist, at least according to the current state of affairs.

This is likely to be a disappointment, especially for the 90,000 Energy employees, as the family is considered to be a very long-term oriented shareholder (even if they are quite interested in Siemens’s always lush dividends).

Last week, the Energy Board announced that it would cut around 7800 jobs worldwide by 2025.

At the first general meeting of Siemens Energy, chaired by the chairman of the supervisory board

Joe Kaeser

(63), Siemens AG as the largest shareholder with 35.1 percent will dominate the decisions anyway.

If the family members sold quickly and in large quantities at the end of September, they would now have reason to be annoyed: Since the first determined price of 22.01 euros after the spin-off, the value of the Energy share has increased by more than 40 percent a good 31 euros increased.