Supervisory Board renews contracts with Maria Ferraro and Tim Holt

Ferraro and Holt have been members of the Managing Board since the spin-off of Siemens Energy in 2020. Maria Ferraro, originally from Canada, is the company's Chief Financial Officer (CFO), and was also appointed Chief Inclusion & Diversity Officer (CIDO) in November 2020. Tim Holt, who holds both German and U.S. citizenship, heads the Grid Technologies division responsible for energy transmission. In Germany, he also acts as Labor Director.

Joe Kaeser, Chairman of the Supervisory Board, said: "Maria Ferraro and Tim Holt have been instrumental in shaping the first years of Siemens Energy's autonomy. As CFO, Maria played a major role in credibly establishing Siemens Energy as a listed company. Tim Holt has significantly expanded the market share of the important transmission business. Both make an essential contribution to Siemens Energy. By extending their contracts prematurely, we are creating continuity on the Managing Board to enable us to unlock the attractive value-creation potential of a sustainable energy business."