Given all the failures that this company has demonstrated with its lack of adecuate corporate responsibility and ethics, it sounds good.
Let us wait for the action rather than just the words!
Onésimo Alvarez-Moro
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It would be hard enough under any circumstances to become the first outsider named to lead a 161-year-old global conglomerate, but Peter Löscher faced a unique challenge last summer when he assumed the reins at Siemens AG -- the German-based engineering and healthcare giant.
The 49-year-old president and CEO of Siemens -- who spoke recently at the Wharton Leadership Lecture series -- openly acknowledged that his first and most difficult task after taking the job last July was dealing with the aftermath of a scandal that included allegations of bribes to foreign governments and union leaders. Löscher said he has moved aggressively to change the firm's culture and standards.
"Corruption exists in the whole world; but it's not our marketing plan," Löscher told the Wharton audience. "It is not the business we are interested in, and it's not a sustainable business model, either." The Siemens CEO described his first-year mission as making sure that "the organization, from a cultural perspective, understands that this is a zero tolerance policy, that we stand for the highest performance with the highest ethical standards -- and [that the goal is] to put all the control systems in place and to travel the world and spread the word that there's absolutely no compromise whatsoever."
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