Siemens fires CEO after internal investigation

Tuesday, October 11, 2011

Siemens Corporation has sacked its Brazil CEO, Adilson Antônio Primo, after an internal inquiry pointed to irregularities committed by the executive, Siemens reported in a statement.

Siemens has been carrying out an internal compliance investigation, coordinated by Siemens in Germany, and found "a serious contravention of Siemens policies" in its Brazil unit, "which occurred before 2007," the statement said.

"Siemens applies a principle of zero tolerance in cases of compliance contravention. The company defends with conviction an honest business - always and without any exception."

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The investigation process is still running, Siemens said without providing further details.

To replace Primo, the firm has immediately appointed Paulo Ricardo Stark. Stark is an electrical engineer who has worked for Siemens in Mexico and in Germany. "Mr Stark takes over an organization of great importance and increased growth," according to the release.