Siemens Managing Board sets up COVID-19 aid fund
Siemens Managing Board sets up COVID-19 aid fund
• Siemens Managing Board decides to form worldwide aid fund to help relieve and combat the coronavirus pandemic
• Siemens to match all funds donated by employees
• Fund to supplement numerous aid programs already in place at
international Siemens units
• Company and employees aim to help people stricken by the COVID-19
• Entire Managing Board joins in donation campaign
• President and CEO lays foundation by donating €1 million
Effective immediately, the Managing Board of Siemens AG has decided to set up a COVID-19 aid fund. Under the auspices of the community-serving nonprofit organization Siemens Caring Hands e.V. (“Caring Hands”), this aid fund is to provide support, without red tape, to relief organizations and medical facilities as well as to individuals impacted by the COVID-19 crisis worldwide.
All Siemens AG employees worldwide can now make monetary donations to Caring Hands by specifying “COVID-19” as the purpose of the gift. Siemens AG will match every euro donated, meaning the company will donate the same amount to Caring Hands. In accordance with its articles of association, the charity itself will then channel the funds to those who need them most.
“Both medically and socially, COVID-19 is a challenge of a kind that the world as a whole has never seen before in peacetime. Now, acting responsibly is more important than ever – for our company’s future, for the health and economic security of our workforce and business partners, but also for the cohesion of societies
around the world,” said Joe Kaeser, President and CEO of Siemens AG. “Many people have helped make us the strong, successful company we are today. And now we want to help those who are doing excellent work, day in and day out, in serving the sick and needy during this time of crisis. That’s why I’m calling on our management and employees worldwide to donate generously. Every euro counts. I want to start things off by personally contributing €1 million.”
As an alternative or as a supplement, the Managing Board and Senior Management will also have the option of voluntarily waiving vacation time. Siemens will then donate a corresponding amount to Caring Hands by reversing accruals for this purpose. No matching by the company is planned for this form of donation.
As a nonprofit organization, Caring Hands will use the donations to support coordinated projects and aid programs and to buy urgently needed products. The goal is to deliver aid rapidly and unbureaucratically to people affected by the coronavirus pandemic worldwide. The Board of Caring Hands will manage distribution of the aid fund.
Siemens Caring Hands e.V. is a charitable association that was founded at the initiative of Siemens AG in 2001. At the time, Siemens AG Management and employees wanted to provide direct, uncomplicated assistance to victims of the September 11 attacks. Caring Hands also reacted in 2004 to the large-scale tsunami in Asia and in 2013 to the historic flood of the Elbe River in Germany. The charity has also provided assistance in response to several other natural disasters. Siemens is fundamentally committed to making a significant effort to serve society. The company spends some €80 million for donations and charitable sponsoring each year.
Siemens AG Press release
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. The company is active around the globe, focusing on the areas of intelligent infrastructure for buildings and distributed energy systems, and automation and digitalization in the process and manufacturing industries. Through the separately managed companies Siemens Energy, the global energy business of Siemens, and Siemens Mobility, a leading supplier of smart mobility solutions for rail and road transport, Siemens is shaping the energy systems of today and tomorrow as well as the world market for passenger and freight services. Due to its majority stakes in the publicly listed companies Siemens Healthineers AG and Siemens Gamesa Renewable Energy (as part of Siemens Energy), Siemens is also a world- leading supplier of medical technology and digital healthcare services as well as environmentally friendly solutions for onshore and offshore wind power generation. In fiscal 2019, which ended on September 30, 2019, Siemens generated revenue of €86.8 billion and net income of €5.6 billion. At the end of September 2019, the company had around 385,000 employees worldwide. Further information is available on the Internet www.siemens.com.
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