Daily News: Reuters Technology News Headlines - Siemens CEO to leave following profit warning

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Saturday, Jul 27, 2013 02:16 PM PDT
Today's Reuters Technology News Headlines - Yahoo! News: Siemens CEO to leave following profit warning Renesas plans to close major chip plant in Japan: sources

Siemens CEO to leave following profit warning  Saturday, Jul 27, 2013 02:16 PM PDT MUNICH (Reuters) - Siemens Chief Executive Peter Loescher is to leave the company, four years before the end of his contract, after the German engineering group this week issued its second profit warning this year. Siemens said in a statement late on Saturday that at a meeting on July 31, the supervisory board would pass the decision on Loescher's early departure. "In addition, it will decide on the appointment of a member of the managing board as President and CEO," it added. Siemens, among Germany's three biggest companies by market value, did not provide further details. ... Full Story	Top
Renesas plans to close major chip plant in Japan: sources  Saturday, Jul 27, 2013 03:11 AM PDT TOKYO (Reuters) - Japan's Renesas Electronics Corp plans to close a system LSI chip plant in northern Japan that makes chips for Nintendo Co Ltd's Wii game consoles and other consumer electronics, after failing to find a buyer for the facility, sources familiar with the matter said on Saturday. The state-of-the-art Tsuruoka plant's 1,000 employees will be offered reassignments or voluntary redundancy, the sources said, as Renesas restructures to focus on making microcontrollers for automotive electronics, where it holds the top global market share. ... Full Story	Top

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