Germany's Siemens AG headquarter is pictured during board member meeting in Munich
Germany's Siemens AG headquarter is pictured during a Siemens board member meeting in Munich July 31, 2013. German engineering group Siemens named Joe Kaeser, its finance chief, to replace Chief Executive Peter Loescher, who has come under pressure for failing to get the company's business back on track. Kaeser will take over from August 1, Siemens said on Wednesday. Loescher is resigning and leaving Siemens' board by mutual agreement, it said in a statement. REUTERS/Michaela Rehle (GERMANY - Tags: BUSINESS)