CEO from Siemens calls for more Diversity in the boardroom

Peter Loescher, CEO from Siemens made waves when criticizing the lack of Diversity in the boardroom of Siemens. In a recent interview with the Financial Times Germany, he admitted that the company has only white male executives and that there are only few women and foreigners among executive managers at Siemens – one of the biggest corporations in the world. According to Loescher the German economy has to become more international; otherwise Germany will lose its competitiveness. For his second year as head of Siemens, Loescher plans to enhance the “global Diversity” of leadership at the corporation. Yet, Loescher refuses to make use of special quotas in order to recruit more diverse leaders. Instead he wants to make use of the specific cultural knowledge of foreign managers: “I want to see a more diverse board of directors. I would like to see a qualified Chinese doing the China-business and a smart Indian who is responsible for the business in India”. The CEO is recognizing that the active involvement with Diversity is crucial for the future of Siemens as well as for Germany.
Michael Stuber, Diversity expert, agrees with Loescher’s statement in an interview with the news agency AFP: “Most companies have to undergo a fundamental cultural change”. “Cultural Diversity and a balanced gender ratio enhance product innovation and contribute significantly to the overall success of a company”, says Stuber. Aside from gender and cultural diversity, additional factors should be considered, for example a balanced age structure, states Stuber.