Von Pierer claims no knowledge of Siemens' corruption

Siemens AG's outgoing supervisory board chairman, who is departing amid corruption scandals at the firm, said yesterday that he knew nothing about alleged improper payments during his time at the helm and is leaving with his "head held high."

Heinrich Pierer said last Thursday that he was stepping down early as board chairman.

"This step is not an admission of guilt and is not desertion," he was quoted as saying in the Welt am Sonntag newspaper.

He also said Siemens "economic situation" was stable.