Tim Holt to become CEO of Siemens Power Generation Services Division

Tim Oliver Holt (46), who is currently CEO of the Power and Gas Business Unit within the Power Generation Services Division, has been appointed CEO of the Power Generation Services Division. Holt's replacement in his Business Unit assignment will be the subject of a future announcement. The Division's current CEO, Randy Zwirn (62), is retiring on October 1, 2016, and Holt will take over from him.

"With Randy's retirement we're losing a highly experienced leader who has played a major role in shaping our Siemens service business and the digital trends of the future. He's had a strong influence on the development of the power generation business at Siemens for nearly twenty years. I'd like to express my deep appreciation to Randy for this contribution and wish him all the best for the future," said Lisa Davis, member of the Managing Board of Siemens AG. "Tim Holt's many years of experience make him the perfect successor. His expertise will enable him to continue to achieve advances in the development of innovative, data-driven service offerings for our customers."

Tim Holt completed an engineering degree in aerospace technology at the Technische Universität Berlin and received an MBA from Northwestern University's Kellogg School of Management in Evanston, Illinois.