DEHNEN.s Corner

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ungleich

Shareholder = Owner? Why this equation is dangerously wrong.

Dear readers of GermanBoardNews, in response to my proposal to make supervisory boards more responsible and at the same time strengthen their position vis-à-vis shareholders, I often hear the following: Whoever holds shares is an owner. And whoever is an owner must necessarily have corresponding rights. More independence for supervisory boards is therefore against the system. Does that sound logical? No. Anyone who argues in such a formal legalistic way …

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Top vs. Flop

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value

Fresenius vs. Siemens: Fighting shareholders or qualifying employees?

Paying record dividends in the Corona crisis is at best instinctless – and at worst an expression of a dangerous corporate culture. Fresenius shareholders are in for a windfall: After the annual general meeting on May 21, the company plans to distribute a record dividend. At the same time, however, according to a report in DIE ZEIT, CEO Stephan Sturm recently announced staff cuts at the hospital subsidiary Helios “in …

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Board News

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Glasfaser

Klaus Rinnerberger (Leoni)

Nuremberg-based automotive supplier Leoni has nominated Austrian industrial manager Klaus Rinnerberger for the supervisory board. The 57-year-old currently sits on the board of automotive and motorcycle specialist Pierer Industrie, which has a stake of around ten percent in Leoni. Nevertheless, Rinnerberger is to be classified “as independent of the company and its Management Board”, according to the documents for the Annual General Meeting on May 19. In addition, the supervisory …

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Holly Lei (Gea Group)

Quizz

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Unternehmensverfassung

Is it possible for German stock corporations to align their organization with the monistic system of corporate governance?

1. Yes, since 2004 there has even been an obligation to the European public limited company under the so-called SE Implementation Act. 2. No, German stock corporations must always be organized according to the dualistic system. 3. Yes, since 2004 there has been a choice between a dualistic and a monistic system as a result of the so-called SE Implementation Act on the European stock corporation. 4. Yes, but then …

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