How appropriate that the name of the new boss of Siemens, Europe's leading engineering group and a bastion of German capital-goods manufacturing, translates as "fire extinguisher". Peter Loscher has got a blaze to deal with at a firm engulfed by multiple bribery investigations and the departure of both its chairman and chief executive. An unknown from the senior ranks of Merck, an American drugs giant, Mr Loscher has in fact enjoyed a successful global career spanning Europe, Japan and America. He could be the blast of cold water that Siemens needs, but he faces the difficult task of mastering the giant conglomerate, with its 475,000 employees and sales of ?87 billion ($107 billion) across 11 divisions, ranging from trains tomedicalequipment.
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