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He was never implicated in the Siemens bribery allegations. But Klaus Kleinfeld will have to pay the price. After a meeting of the supervisory board, Klaus Kleinfeld announced he would not be available for another term as CEO of the company.

An uncertain position is not acceptable for our staff, our customers, our shareholders and also for me. I do this at a time when the company is performing extremely well. And with a outcome of the corruption investigation is coming together well.

Europe’s largest engineering company has been in the headlines for a month after authorities raided several company officers and a senior executive was taken into custody, charged with embezzlement, and later released on bail. The allegations against Siemens, slush funds, embezzlement of company money, and bribery to win contracts. All of the alleged activities took place before Kleinfeld became Siemens CEO in 2005. And through all the turmoil, company performance has remained strong. On Tuesday, the company posted better than expected preliminary second quarter earnings. Klaus Kleinfeld remains popular among most Siemens shareholders.

Klaus Kleinfeld’s numbers are good. I see no reason for him to step down. there was no wrongdoing. At least it was never proven, says Klaus N of a German shareholders union.

Last Friday, then chairman of the Siemens supervisory board, Heinrich Von Pierer announced he would step down in a bid to get the company out of the headlines, he said. Von Pierer , who was Siemens CEO from 1992 to 2005, was the first top level Siemens executive to step down in relation to the allegations. German Brokes of Transparency International says he believes the coming month will continue to be difficult for Siemens Corporate reputation.

It's gonna be very complex, there are investigations, not just in Germany, but they will be taken up in the United States. And we know that it’s very difficult for companies from previous experience. We know it’s very difficult for companies themselves to be fully in control of that process.

But Klaus Kleinfeld will no longer be in charge of that process. It’s only two years at the helm of the company. He will step down at the end of September.

As CEO, Klaus Kleinfeld spearheaded the investigation into the bribery allegations at Siemens. He hired outside investigators to help bring the truth to light, he says. and one thing, he says he want to make abundantly clear he believes he’s done nothing wrong.

Frederik Pleitgen, CNN, Berlin.