The tenure of Peter Löscher as chief executive officer of Siemens remains a singular case in the company's 170-year history, as he stands as the only leader hired from outside the conglomerate. Born in 1957 in Villach, Austria, he transitioned through high-level pharmaceutical and industrial roles, ultimately managing large-scale global operations across multiple continents and languages.
Academic and Early Professional Foundation
Löscher completed his secondary education at Gymnasium Villach in 1978 before earning a master's degree at the Vienna University of Economics and Business. His advanced training included a six-week program at Harvard Business School and studies at the Chinese University of Hong Kong. His early career began in 1988 at the pharmaceutical firm Hoechst, where he held positions in Spain, Japan, Great Britain, and the United States until 2000. He later moved to Aventis, then Amersham, before joining the executive board of Merck in 2006.
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Appointed to lead Siemens in 2007, Löscher initiated significant structural changes, including the spin-off of the Osram lighting unit and the divestment of a joint venture with Nokia. During his term, he accompanied Chancellor Angela Merkel on state visits, notably to China in 2012. Financial pressures mounted as he targeted 6 billion euros in savings. His departure in July 2013 followed operational challenges, including the delayed delivery of high-speed ICE trains to Deutsche Bahn and setbacks in offshore wind projects.
Industrial Holdings and Board Appointments
After leaving Siemens, Löscher served as chief executive of Renova Management from 2014 to 2016, overseeing international holdings including Sulzer and Oerlikon. His extensive board history includes roles at OMV, Deutsche Bank, Munich Re, Philips, and Telefónica. He currently serves on the boards of CaixaBank and TBG AG. In 2012, he received an honorary doctorate from the Slovak University of Technology in Bratislava.
Fast facts
- Born: 1957, Villach, Austria
- Citizenship: Austria
- Education: Vienna University of Economics and Business; Harvard Business School
- Siemens CEO term: 2007–2013
- Languages: German, English, French, Spanish, Japanese
- 2012 earnings as Siemens CEO: 8.7 million euros
- Notable honor: Great Golden Medal of Honour for Services to the Republic of Austria
Questions readers ask
Was Peter Löscher an internal hire at Siemens?
No, he was the first and only CEO in the company's 170-year history to be hired from outside the firm.
What industrial companies has he managed?
Beyond Siemens, he held leadership roles at Hoechst, Aventis, Amersham, Merck, and Renova Management.
Achievements
- Great Golden Medal of Honour for Services to the Republic of Austria
- Order of Friendship
- honorary doctorate of Slovak University of Technology in Bratislava — 2012
- Order of Civil Merit
- Educated at Harvard Business School and Vienna University of Economics and Business
