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10/22/2018, 7:45 PM (Source: TeleTrader)
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Siemens CEO will not travel to Saudi Arabia

Joe Kaeser, chief executive of Siemens SE, called the "death" of Saudi journalist in Istanbul "barbaric" and followed companies including ABB, Airbus and Deutsche Bank which dropped out of the Future Investment Initiative (FII) event in Riyadh, the so-called Davos in the desert. In a statement published on Monday, he said his decision is "not the most courageous" but stressed the need for "clarity, transparency, and justice sooner rather than later."

The CEO said he appreciates the company's partners and employees in the kingdom and highlighted potential deals "worth up to $30 billion." People sent "hundreds, if not thousands" of messages demanding the boycott of the conference and Siemens "couldn’t simply move on and do business as usual," he said. Kaeser stressed he would not send a lower-ranked representative. "Siemens has been a reliable partner to Saudi Arabia for decades and supports its great Vision 2030. But for now, the truth must be found and justice must be served," he stated.

Turkey said the murder in the Saudi consulate was "monstrously planned" and vowed to make the "naked truth" known to the world.

Breaking the News / IT