Siemens has announced that it plans to publicly list its Osram subsidiary in the autumn of 2011.
The parent company has said it will continue to retain a minority stake in the lighting brand and that it will continue as a long-term shareholder.
Siemens president and CEO Peter L?scher said, "Osram has an outstanding position worldwide as Siemens' lighting brand, and we intend to maintain our close ties to the future company as a long-term anchor shareholder. With the IPO, [Initial Public Offering] we want to give Osram complete entrepreneurial freedom to comprehensively further develop its leading competitive position in a lighting market being swept by technological changes,"
Martin Goetzeler has resigned his position as CEO of the Executive Board of Osram Ltd. He has been appointed chief operating officer of Osram by the Supervisory Board of Osram Ltd, with effect from April 1, 2011. He will continue to perform this function as a member of the Osram Managing Board after the establishment of the new publicly listed company. Dr. Klaus Patzak, currently Chief Accounting Officer and Controller of Siemens AG, is to be the CFO of Osram Ltd – and after the public listing – the CFO of Osram Plc.
Wolfgang Dehen, currently member of Siemens' Managing Board and CEO of the Energy Sector, has been appointed to head the Osram Executive Board, with effect from April 1, 2011. Following the transformation of Osram into a publicly listed company, he will serve as its President and CEO.
"Wolfgang Dehen, a highly respected manager, has the experience necessary to prepare Osram's public listing and establish Osram as an independent, publicly listed company with Siemens as anchor shareholder," said Peter L?scher.
Wolfgang Dehen said, "I'm looking forward to bringing this innovation leader with its globally recognised brand name onto the stock market. Together with Osram's roughly 40,000 employees worldwide, we want to play a decisive role in shaping the future of the lighting market with green, energy-efficient solutions and products. With Martin Goetzeler, we have a chief operating officer who stands for success and continuity."
Osram's recent purchase of Siteco can now be seen as an attempt to make itself more appealing to potential investors. At the same time, the company points to its strength in automotive lighting, its leading position in electronic ballasts and energy efficient lighting – which now accounts for 70 per cent of its revenue – and the strategic importance of its opto semiconductor business.
