It looks as though Peter Loescher is out as CEO of Siemens (SI). According to a brief press...

|About: Siemens AG (SIEGY)|By:, SA News Editor

It looks as though Peter Loescher is out as CEO of Siemens (SI). According to a brief press release issued Saturday afternoon, the Supervisory Board "will decide on the appointment of a member of the managing board as President and CEO" on July 31. SI warned Thursday it would likely not hit its 12% profit margin target by fiscal 2014.