Everyone in the power industry is familiar with Siemens Energy. Its technology is behind about one-sixth of the world’s power generation, and even a larger portion than that in the U.S.—roughly a third.
Yet, Siemens Energy as currently organized is a fairly new entity. The company was spun off from Siemens AG and began trading on the Frankfurt stock exchange on Sept. 28, 2020. When the spin-off was approved by Siemens shareholders in July that year, Joe Kaeser, president and CEO of Siemens AG, said, “The spin-off enables us to build two focused companies, both of which will be strong players in their respective sectors.”
