As investigations into company corruption continues, Siemens CEO Klaus Kleinfeld has said he will stand down when his contract expires in September. "In times like these, the company needs clarity about its leadership. I have therefore decided not to make myself available for an extension of my contract," Kleinfeld said in a statement.
Last week, Siemens Chairman Heinrich von Pierer announced he was stepping down. Neither Kleinfeld nor von Pierer have been personally implicated in any of the suspected bribery investigations. There is no word who will replace Kleinfeld.