Siemens' CEO hopefuls fear changes

Restructuring plans revealed this week by head of Siemens' telecommunications and IT division Volker Jung, have been met by opposition within the group.

Jung told the FT Deutsche-land of his plans to reorganise activities between the ICN fixed network division and the SBS information technology division.

But as executives prepare themselves as potential successors to Heinrich von Pierer, CEO, fears that their efforts might be delayed by the plans have arisen.

However, a Siemens insider defended Jung in a statement saying Jung would never put forward ideas with approval from divisional heads.

Pierer does not plan to retire until September 2004, but a successor must be designated one year before.