Business & Money | Sunday 3 July, 2016 4:01 pm |

Siemens has appointed Alia Al Rifai (40) as Chief Financial Officer (CFO) of the company’s Middle East region, effective July 1. Al Rifai assumed her new role after two years as Senior Executive Vice President of Finance for the Energy Management Division in the region. She takes over from Stefan Halberstadt, who will join the Power and Gas Division’s Energy Solutions business unit as CFO, starting August 1. 

 

Al Rifai, whose career at Siemens spans close to two decades, will lead the company’s financial operations in the region, focusing on strengthening key growth areas, driving profitability and promoting diversity and local value creation. She will be based in the United Arab Emirates, home to Siemens Middle East and UAE headquarters in Masdar City. As part of her remit, Al Rifai will oversee key growth markets in the region, including the UAE, Egypt, Qatar, Oman and Kuwait.

 

Dietmar Siersdorfer, CEO of Siemens Middle East, said: “We are delighted to welcome Alia into the position of CFO for the Middle East, a region where Siemens’ presence dates back almost 160 years. With her extensive knowledge of the local market, we are confident Alia will work with our strong teams to steer the company towards further expansion and profitability. We would also like to thank Stefan for his commitment, dedication and valuable contribution to the business during the past five years. As he embarks on a new challenge with Siemens in Germany, we wish him continued success.”

 

Commenting on her appointment, Al Rifai said: “The region continues to present exciting opportunities for Siemens across different sectors, with energy efficiency and digitalization taking center stage in the drive for productivity. I am thrilled to take up my new responsibilities and to build on our past achievements. In addition to strengthening our portfolio and providing customized, innovative technologies to our customers, adding value to society and contributing to local knowledge transfer remain key priorities.” 

 

Al Rifai started with Siemens as Commercial Project Manager in Damascus, Syria, in 1997. Since then, she has worked across different markets in the region and held various leadership positions, including CFO of Siemens in the UAE and in Qatar.

 

Michael Loew (39) will take over from Al Rifai as Senior Executive Vice President of Finance for the Energy Management Division in the region starting September 1. 

 

The Middle East region at Siemens spans 15 countries. Siemens has been a long-term partner for the region, developing power infrastructure, supplying building technologies, industrial automation and the latest in healthcare solutions. In the UAE, 40 percent of electricity is generated with Siemens turbines, while 75 percent of UAE residents’ daily water is delivered with the help of Siemens technology. In Egypt, Siemens is set to transform the power landscape with an €8 billion project that will boost electricity generation by 50 percent, improving the quality of life for the Egyptian people.