Siemens faces further damage to its corporate image after Transparency International, the anti-corruption watchdog, said it would end the German industrial conglomerate’s membership, following investigations of suspected fraud at the Munich-based group.
The decision to expel Siemens from the organisation raises the pressure on Klaus Kleinfeld, chief executive, to deal with the investigation and could even put a key agreed tie-up with Nokia’s telecoms equipment business in doubt, according to German press reports.
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