COO Tim Holt: New Siemens Power Will Be ‘Powerhouse’

26 February 2020

The Spring issue of Diesel & Gas Turbine Worldwide includes a Q&A with Tim Holt, chief operating officer at Siemens Gas and Power, who discusses the company’s future, the state of the industry as well as other topics. Here’s a sample:

Q: This is obviously a time of transition for Siemens Power as a company; what is the message that you’re sharing with customers and potential customers about what comes next?

A: Siemens AG will spin off its Gas and Power Operating Company into an independent, stock-listed energy company that will enable the company to compete more effectively in today’s challenging market. The new stock-listed energy company is called Siemens Energy. As part of our portfolio offerings, we will take over Siemens’ majority stake in the market-leading wind power business, Siemens Gamesa Renewable Energy. These actions will create a truly unique and focused energy pure-play company on the market – and one that will play a leading role in both the conventional and the renewable energy worlds. With the combination of conventional power generation, renewables, oil and gas activities, and power transmission, we’re building an attractive and focused company with a unique capacity in the industry. With about 90 000 employees and a business volume of about €30 billion, the new company will be a real powerhouse in the energy and power generation market.

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