Siemens AG (NYSE:SI) announced plans late Monday to spin off its Osram GmbH lighting business in the fall. The business is the world’s second largest lighting company after Philips Electronics NV (NYSE:PHG).Osram GmbH, had sales of $6.6 billion in 2010, and employs 40,000 people. Siemens didn't say how much it expects to generate from the IPO, but said it will remain a "long-term anchor shareholder" in the new company.Wolfgang Dehen, currently the CEO of Siemens' energy sector, has been appointed to lead the Osram executive board, and will become CEO of the new company.Siemens President and CEO Peter Loescher said, "With the IPO, we want to give Osram complete entrepreneurial freedom to comprehensively further develop its leading competitive position in a lighting market being swept by technological changes."Siemens also announced it was creating a fourth major business unit, dubbed "infrastructure and cities," which will be created using pieces of its existing industry and energy sectors.