Siemens CEO Says Energy Spinoff Is Best Way to Boost Shares

The transcript discusses Siemens' plan to spin off its turbine and oilfield equipment unit, creating an independent company. CEO Joe Kaeser explains that the spinoff is part of a strategy to focus Siemens AG on industrial automation and digital infrastructure. The move is not influenced by oil prices but aims to restructure Siemens Energy towards renewable energy. The spinoff will involve a 55% stake, with Siemens retaining a significant interest in renewable energy through Siemens Gamesa.

What does Joe Kaeser say about the relevance of oil prices to the equity story?

What is the future focus of Siemens as mentioned by Joe Kaeser?