Lisa Davis

It’s been a challenging period for Davis. Her energy division, which accounts for more than a quarter of Siemens’s total revenue, saw profits plunge 75% in 2018. Then came the May announcement that Siemens plans to spin off the struggling business in 2020. After Fortune‘s October issue went to press, Siemens announced that Davis will not lead the new company. Instead, she will become co-CEO of Gas and Power on October 1. She’ll continue in that role until February 2020, then transition to supporting Siemens’s CEO until her contract expires in October 2020.

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