to hold robust capital buffers against losses. He said in an open letter to board last week that he AIG’s be satisfied with asset sales and incremental cost-cutting.” wouldn’t “small-scale The board Chairman Mr. Steenland said a nonbank SIFI is not currently a binding constraint on “being return of He said a of diversification benefits would reduce capital available for capital.” “lack distribution, and there would be a loss of tax benefits.” Write to Leslie Scism at and Lisa Beilfuss at Siemens CEO Faces Investors After Strong First Quarter Joe Kaeser is pressed to show that a two-year revamp is starting to pay off ENLARGE Siemens CEO Joe Kaeser addressed a news conference before the company's annual meeting in shareholders’ Munich on Tuesday.PHOTO: REUTERS By CHRISTOPHER ALESSI Updated Jan. 26, 2016 8:41 a.m. ET MUNICH— AG Chief Executive Joe Kaeser faced investors Tuesday at the annual meeting, company’s a day after disclosing strong earnings and a big, strategic deal—but while many shareholders are still questioning whether a two-year restructuring effort is bearing fruit. was a year of strategic reorientation for Siemens. In 2015, we consolidated the “2014 company’s operations. 2016 is now the year of Mr. Kaeser said in a speech to shareholders. optimization,” “That means higher profitability and he added. productivity,” Siemens posted and raised its guidance for the full fiscal year. The results reflected positive currency effects, as well as a strong order intake.
to hold robust capital buffers against losses. He said in an open letter to AIG’s board last week that he wouldn’t be satisfied with “small-scale asset sales and incremental cost-cutting.” The board Chairman Mr. Steenland said “being a nonbank SIFI is not currently a binding constraint on return of capital.” He said a “lack of diversification benefits would reduce capital available for distribution, and there would be a loss of tax benefits.” Write to Leslie Scism at and Lisa Beilfuss at Siemens CEO Faces Investors After Strong First Quarter Joe Kaeser is pressed to show that a two-year revamp is starting to pay off ENLARGE Siemens CEO Joe Kaeser addressed a news conference before the company's annual shareholders’ meeting in Munich on Tuesday.PHOTO: REUTERS By CHRISTOPHER ALESSI Updated Jan. 26, 2016 8:41 a.m. ET MUNICH— AG Chief Executive Joe Kaeser faced investors Tuesday at the company’s annual meeting, a day after disclosing strong earnings and a big, strategic deal—but while many shareholders are still questioning whether a two-year restructuring effort is bearing fruit. “2014 was a year of strategic reorientation for Siemens. In 2015, we consolidated the company’s operations. 2016 is now the year of optimization,” Mr. Kaeser said in a speech to shareholders. “That means higher profitability and productivity,” he added. Siemens posted and raised its guidance for the full fiscal year. The results reflected positive currency effects, as well as a strong order intake.
FNCE4825-Spring2015.docx