Heinz-Joachim Neubürger, former chief financial officer of Siemens, died by apparent suicide in Munich. He was 62.
His death came shortly after settling a lawsuit related to a 2006 bribery scandal, where he was accused of involvement in paying bribes to secure foreign contracts. While he maintained his innocence, he paid €2.5 million as part of the settlement. He had also settled criminal charges in 2011.
Siemens CEO Joe Kaeser praised Neubürger's contributions to the company. Friends expressed shock and noted Neubürger's frustration over the legal battle's impact on his career. The settlement was less than what Siemens owed him in pensions and other compensation.
In 2008, Siemens paid $1.3 billion in penalties for systematically bribing foreign officials to win contracts. This included $800 million to US authorities.