Sovereign wealth funds out of the supervisory boards: an appeal to Marco Buschmann and Theodor Weimer

Dear readers of GermanBoardNews, in the economic war between democracies and dictatorships, are companies now being targeted? The attack by Singapore’s sovereign wealth fund Temasek on Bayer Management Board member Werner Baumann makes me wonder. There are good reasons for Bayer’s criticism; I, too, am skeptical about some of its activities. But the timing raises serious questions (see our current analysis). Shareholder advocates have, in my view, rightly criticized the …

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The little Ukrainian boy got a toy box with vehicles. Embarrassed, I wanted to quickly hide the toy tank that we had overlooked. He lovingly took it out of my hand, carefully put it down and drove over it 10 times with a tractor. @12happyfeet12

The little Ukrainian boy got a toy box with vehicles. Embarrassed, I wanted to quickly hide the toy tank that we had overlooked. He lovingly took it out of my hand, carefully put it down and drove over it 10 times with a tractor. @12happyfeet12

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Yngve Slyngstad (Deutsche Bank)

At Deutsche Bank’s Annual General Meeting on May 19, the long-time head of the Norwegian sovereign wealth fund will stand for election to the Supervisory Board: Yngve Slyngstad is to replace former Google security chief Gerhard Eschelbeck, who is stepping down after five years. The 59-year-old Norwegian led the world’s largest sovereign wealth fund for 13 years, where he focused on high ESG standards at an early stage. His nomination …

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Bayer & Temasek – the economic war reaches the AGM season

There are good reasons to criticize Bayer’s strategy. But the fact that the sovereign wealth fund of an autocratic country is blowing the whistle right now should set alarm bells ringing. Bayer is facing a turbulent Annual Stockholders’ Meeting on April 29. This year, opposition is coming not only from the usual suspects, but also from major shareholder Temasek. The Singapore sovereign wealth fund, which holds four percent of the …

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Cabal in Oldenburg: What’s going on at governance role model Cewe?

Dear readers of GermanBoardNews, one headline in particular has surprised me in recent days: “Cewe CEO Friege must go – against the will of the Supervisory Board,” was the headline in the Handelsblatt newspaper. Against the will of the Supervisory Board? The lawyer in me was particularly reluctant, and on top of that: I had previously counted the photo service provider from Oldenburg as one of the few corporate governance …

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Stefan Sommer (Jost Werke)

Long-time top manager Manfred Wennemer is giving up one of his last posts: The 74-year-old is leaving the Supervisory Board of Jost Werke AG, which he has headed since 2017. His designated successor is long-time ZF Friedrichshafen CEO Stefan Sommer, who shareholders are expected to elect to the board at the annual general meeting in May. The commercial vehicle supplier is also proposing Deputy Chairman of the Supervisory Board Bernd …

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Greenpeace, Amnesty & Co.: Who actually monitors the good guys?

Civil society organizations (NGOs) have a significant influence on political decision-making processes. High time to talk about their governance structures. Shortly after the outbreak of the war in Ukraine, a Greenpeace expert criticized the German government for not “stuffing even more money down the throat of the arms industry. In view of the impending hunger crisis, it must increase the development budget, demanded “Bread for the World” a little later. …

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Hare and Hedgehog? The race between the Codex Commission and the EU Commission

Dear readers of GermanBoardNews, until this Friday, those interested in corporate governance can comment on the reform proposals submitted by the Government Commission on the German Corporate Governance Code (GCGC). In justifying the need for reform, the Commission states: Those who manage or supervise companies must take “ecological and social sustainability” more into account in the future. According to DCGK Chairman Rolf Nonnenmacher, expectations in this regard have “become much …

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Elon Musk, an ex-comedian who defends his country with his bare hands as president, boxing world champions, cryptocurrencies, Anonymous, tractors towing tanks, Molotov cocktails, an ace aviator and a Russian dictator. No one would have ever filmed a script like this. @Rosinnjo

Elon Musk, an ex-comedian who defends his country with his bare hands as president, boxing world champions, cryptocurrencies, Anonymous, tractors towing tanks, Molotov cocktails, an ace aviator and a Russian dictator. No one would have ever filmed a script like this. @Rosinnjo

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Katja Hessel (Deutsche Telekom)

Federal Finance Minister Christian Lindner is sending his Parliamentary State Secretary Katja Hessel to Deutsche Telekom: Shareholders are to elect the FDP politician to the supervisory board of the partly state-owned group at the shareholders’ meeting on April 7. The 50-year-old from Nuremberg joined the Bavarian state parliament in 2008 and moved to the Bundestag nine years later. Before her political career, Katja Hessel worked as a lawyer and tax …

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More politicians on the supervisory boards!

Yes, you read that correctly. We would like to see more politicians on supervisory boards, even though up to now we have been calling almost mantra-like for “professionals” to be appointed instead. A 180-degree turnaround? Only at first glance. Putin’s brutal war of aggression in Ukraine is a shocking reminder that the geopolitical risks for companies have increased significantly. Many executive and supervisory boards now have to make painful decisions: …

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