[6] Under Löscher, Siemens spun off its Osram lighting unit and sold its half of a joint venture with Nokia that supplied equipment for mobile telecommunication networks.

[10] Following a series of missteps under his leadership, including a late delivery of high-speed ICE trains for German national railroad Deutsche Bahn and delays in completing offshore wind turbine projects,[11] he was replaced by Joe Kaeser (Josef Käser) as CEO and left Siemens in July 2013,[12] four years before the end of his contract.

[13] Under the terms of his pay-off of 17 million euros from Siemens,[14] Löscher was obliged not to work for a "significant competitor" of the company until September 2015.

In 2014, Löscher was hired by Russian billionaire Viktor Vekselberg to serve as chief executive of Renova Management (RMAG), which oversees his international industrial holdings, including stakes in Sulzer and in Oerlikon.

[16] Also in 2014, Russian Railways (RZD) nominated Löscher as member of the company’s board of directors;[17] however, he ultimately wasn’t considered.