Munich — Siemens shareholders urged CE Joe Kaeser to press ahead with transforming the engineering group that made its best annual operating profit to date in 2016 resulting in higher earnings forecasts. As unknown risks loom from the protectionist policies of US President Donald Trump, Kaeser cautioned that the German company could not afford to be complacent, while basking in a rare glow of shareholder approval at the group’s annual meeting as the company’s shares jumped to a 17-year high on Wednesday. "I admit we don’t always succeed in everything. And risks lurk everywhere. But we have noticeably improved," he said. Siemens raised its earnings forecasts on Tuesday after its industrial business profit jumped in its financial first quarter, lifted by its factory automation unit. Asked about the risks and opportunities arising from Trump’s election, Kaeser sounded clearly more concerned than three months ago, when he had urged people to "give Trump a chance". "The new US president ...
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