Siemens shifts away from coal as it wins spin-off backing
German industrial giant Siemens on Thursday unveiled plans to set its energy subsidiary on the road towards a coal-power-free future, as it won backing from shareholders to spin off the unit. Days after Germany agreed to end use of coal-fired power generation by 2038, the conglomerate's chief executive Joe Kaeser underlined plans to shift its division Siemens Energy towards a greener model.