STUTTGART, GERMANY — The Bosch Group has completed its acquisition of Siemens’ 50 percent share in BSH Bosch und Siemens, the global major appliance manufacturer, and has replaced the head of its U.S. majap business after less than four months on the job.
The buyout, which had awaited regulatory approval, gives Bosch complete control over the former 50-50 joint venture, which generated sales of about 10.5 billion euros in 2013.
Bosch said it will run the business, renamed BSH Hausgerate, as a wholly- owned, largely independent subsidiary under current majap chief Dr. Karsten Ottenberg.
Ottenberg said the acquisition will allow the company to further leverage its connected-home initiatives, which to date include a “Home Connect” app that gives users wireless control over select ovens and dishwashers via Wi-Fi.
The company said it plans to expand its global market share and double its sales by 2025 through increased investment in research and development.
In the U.S., BSH makes and markets premium kitchen and laundry products under the Bosch, Gaggenau and Thermador brands. That operation has a new head in Russell Dorsten, previously COO of BSH Home Appliances North America, who has been named interim CEO succeeding Michael Steinle.
Steinle, a former U.K. chief who had been with the majap maker for 32 years, resigned on Dec. 17, a company spokesperson told TWICE, after less than four months on the job.
Dorsten previously served as cooking and refrigeration senior VP for the company’s North American business, based in Irvine, Calif., and before that held plant manager, operations manager and manufacturing engineer posts.
The company maintains U.S. manufacturing operations in New Bern, N.C., and LaFollette, Tenn.