Who is Klaus-Christian Kleinfeld? The president of the NEOM project


Crown Prince Mohammed bin Salman has assigned with Dr. Klaus Kleinfeld, a contract of being the Chief Executive of new Saudi Arabia mega-city “NEOM“.

In Germany, Kleinfeld is known in particular as a former head of the Siemens conglomerate. The Bremen-born manager started operating for Siemens in 1987, and inside some years was promoted to move the projects division. As of 1998, Kleinfeld restructured the loss-making medical appliances section and helped it flip a profit. After that, he helped loss-making USA subsidiary Siemens corporation. come back to positive web income.

When he was appointed the head of Siemens cluster, he initiated plenty of reforms – one in every of that was to urge eliminate the telecommunications division. Siemens’s transportable section, that had lost the trend toward transmission smartphones utterly, was integrated in Taiwan’s BenQ during a venture. when BenQ force the plug on funding, the whole utterly disappeared, feat thousands of ex-Siemens employees unemployed.

Siemens additionally integrated its troubled fixed-line phone business into Finland’s Nokia, that within the finish additionally meant forceful job cuts.

In 2007, Kleinfeld’s work on Siemens finished untimely when a corruption scandal was created public, involving bribe payments to secure overseas infrastructure contracts associate degreed support a worker organization, AUB. additionally, the ECU Commission mistreated a 419-million-euro fine on Siemens for large-scale value collusion within the energy division.

Kleinfeld wasn’t within the investigators’ center at the time, however, he determined to quit anyway, to permit the corporate to create a clean slate. There was no golden parachute; Kleinfeld did not get any compensation on the feat. On the contrary, he contributed two million Euros to sinking damages in 2009.

In August 2007, Kleinfeld emotional to USA metallic element company Alcoa as the chief operating officer, and shortly went on to become the firm’s CEO in could 2008, furthermore as chief officer of metal engineering specialist Arconic, associate degree Alcoa production.

He had to dispense with Arconic in April 2017 when losing a fierce power struggle with Paul Singer, head of a hedge fund Elliot Management.

The capitalist had for months criticized Kleinfeld for what he believed was an unacceptable performance on the part of Arconic. Kleinfeld wrote a letter to Singer that eventually price him his job. As became famed later, the letter contained a raft of cryptic allusions accusative rich person Paul Singer of misbehavior throughout the 2016 association football tournament in the European nation.

The singer’s professional taken those accusations as a blackmail try, whereas Kleinfeld’s employers aforesaid the German had shown poor reasoning. thus Kleinfeld had to step down, however this point, his departure was sugared with $50 million in compensation cash.

Klaus-Christian Kleinfeld Linkedin profile