New Chairman, new CEO, but it looks like nothing has changed at Siemens!
Onésimo Alvarez-Moro
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The leading anti-corruption official at Siemens is to resign after only six months in the job amid heavy internal resistance to bribery investigations at Europe’s largest engineering group.
Daniel Noa, who has led the German group’s compliance department since the start of the year, will step down by June 30, but will remain as a consultant for 18 months. He is resigning against his will, several people familiar with the matter said.
“There are still a lot of people at Siemens who are saying: ‘stop hurting us with the investigations, we have a business to run’,” said one manager working on anti-corruption at Siemens. Another said: “There is a lot of resistance internally still.”
The resignation raises questions about the progress of Siemens’ internal probe into one of the country’s largest corporate bribery scandals. The industrial group has found significantly more than €420m in suspicious payments and is under investigation in several countries, including by the Department of Justice and Securities and Exchange Commission in the US.
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