Holt is currently the CEO of the Power Business Unit within the PGSD. He will replace outgoing CEO Randy Zwirn, who is retiring.
"With Randy's retirement, we're losing a highly experienced leader who has played a major role in shaping our Siemens service business and the digital trends of the future. He's had a strong influence on the development of the power generation business at Siemens for nearly twenty years," said Lisa Davis, member of the Managing Board of Siemens AG. "Tim Holt's many years of experience make him the perfect successor. His expertise will enable him to continue to achieve advances in the development of innovative, data-driven service offerings for our customers."
Holt completed an engineering degree in aerospace technology at the Technische Universität Berlin and received an MBA from Northwestern University's Kellogg School of Management in Evanston, Illinois.
The new appointment will take effect October 1, 2016.