German technology and engineering giant Siemens AG has named Klaus Moosmayer corporate chief compliance officer, effective Jan. 1, 2014. He will assume the role from Hans-Jörg Grundmann, current chief compliance officer, who will be retiring at the end of the year. 

Since 2010, Moosmayer has been responsible for all legal and regulatory-related compliance duties at Siemens. At the beginning of November 2013, he was appointed by the OECD's business and industry advisory committee to serve as head of its anti-corruption task force.

Siemens' compliance department is part of its global legal department. Following the departure of Peter Solmssen, who is stepping down from the role of general counsel and head of legal and compliance on Dec. 31, the compliance department will be headed by Andreas Hoffmann, the new general counsel. Hoffman will report directly to Siemens President and Chief Executive Officer Joe Kaeser, effective Jan. 1, 2014.

As Compliance Week previously reported, Siemens reached a record $1.6 billion settlement with the United States and German regulators in 2008 stemming from a massive bribery scheme that felled the highest executives at the company for violations of the Foreign Corrupt Practices Act.  The settlement resolved charges that Siemens paid a staggering $1.4 billion in bribes to government officials in Asia, Africa, Europe, the Middle East, and the Americas.