Klimaschutz Aufsichtsrat

Larry Fink & Joe Kaeser: Climate competence becomes a Greta question for supervisory boards

This figure has given us pause for thought: According to a study, only 22 percent of managers believe that their supervisory board pays comprehensive attention to climate protection. We therefore fear that multi-supervisory board member Barbara Kux (Henkel among others) is right when she states: “In the minds of many supervisory boards, the environmental issue has not yet been properly addressed” (see Handelsblatt commentary “How supervisory boards can learn from …

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Public Governance Kodex

New Public Governance Code: No more BER?

There is no question that there is a lot going on in public companies. Problems such as the BER airport and Deutsche Bahn are no coincidence, but the result of notoriously lax governance in the state sector. Incompetent supervisory boards, nepotism and patchy compliance structures ensure that targets are constantly being missed and call into question the current renaissance of industrial policy. We were therefore hoping for the new Public …

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Paul Singer

Paul Singer: Attention, this man wants to split your supervisory board!

Paul Singer’s Elliott hedge fund is undoubtedly one of the most aggressive activists in Germany. Those responsible at ThyssenKrupp, SAP and Bayer can sing a song about this. “Spreading fear, cashing in, moving on,” is how former Siemens boss Klaus Kleinfeld describes the strategy in the current issue of Capital. The problem from the point of view of supervisory boards: The Singer squad knows how to put their finger in …

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Mitbestimmung

IG-Metall boss Hofmann: From co-determination to blockade?

Shortly after his re-election in October, the head of the IG Metall union made a demand that must not remain uncommented. “If one wants to create a balance between work and capital, co-determination must be strengthened,” said Jörg Hofmann in the Handelsblatt interview. However, the double voting right of the chairman of the supervisory board has so far prevented “real participation”. So should we put labour and capital on an …

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Corporate Governance

Achleitner & Merz: Guiltless guilty? The tragedy of the supervisory boards

ThyssenKrupp, Deutsche Bank, Volkswagen: 17 years after the publication of the German Corporate Governance Code, one scandal follows another. At the same time, criticism of Germany’s supervisory board chairmen as the supreme guardians of corporate culture is growing, understandably. WirtschaftsWoche, for example, recently stated a “cartel of clones” which, despite all the diversity Sunday speeches, led to monocultures in management. That’s true, but if you think we just need new …

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Simone Menne

Simone Menne: Settlement with Germany’s Supervisory Board Chairmen

Are the chief controllers of our corporations incorrigible chauvinists? That’s the impression you get when you listen to Simone Menne. “There are still sayings you can hardly imagine,” the multi-supervisory board member told ZEIT recently in an interview. “There are no women in our industry,” they say, for example. “Or, intellectually, she’s not ready yet. Or they make jokes. Some of the gentlemen are over 70 and don’t know it …

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Joe Kaeser

The Kaeser dilemma: Criticize Trump and keep quiet about China?

Let’s start from the ground up, with a change in moral standards. Whether doping, corruption or a numbered account in Switzerland: much of what used to be considered a trivial offence is now frowned upon. We judge more strictly and have higher expectations, also and especially of top managers. That is why compliance and attitude are more important than ever. We have therefore praised Joe Kaeser for his clear words …

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Tönnies

Tönnies: bitter feud over advisory councils, pigs and water corpses

As if Clemens Tönnies didn’t have enough trouble at the moment, the quarrel with his nephew Robert is again completely inflamed. This time it is about the Group Advisory Board, which was set up in the course of the “Peace of Westphalia” a good two years ago: As we feared at the time, the committee has become “the nucleus of new conflicts”. According to Manager Magazin, Robert Tönnies accuses the …

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Norbert Reithofer

Norbert Reithofer & Dieter Zetsche: Too hot to cool down?

The move of CEOs to the top of the Supervisory Board is once again right at the top of the corporate governance agenda. There are two triggers for this. Firstly: the surprising withdrawal of BMW boss Harald Krüger, who according to critics was never able to step out of the shadow of his predecessor and chairman of the supervisory board Norbert Reithofer. Second: Daimler’s profit warning, as a result of …

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Börse

Olaf Berlien & Mathias Döpfner: Expulsion from Paradise

More and more companies are fleeing the stock market. According to the Handelsblatt, the number of regularly listed companies has fallen from 761 to 464 in the last ten years. And the trend is accelerating; Axel Springer and Osram recently announced a withdrawal – with similar arguments: The CEOs Olaf Berlien and Mathias Döpfner needed time for the digital transformation and could not use shareholders who would go on the …

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Managergehälter

Manager salaries: Which supervisory boards are now required?

Jürgen Heraeus is annoyed about high manager salaries in listed companies. The salaries are “often unacceptable”, the family entrepreneur recently told “ZEIT”. We look alike. From our point of view, especially large distances to the salaries of other executives are an anachronism – especially since modern bosses tirelessly preach team spirit. But will the salaries fall as hoped by the new shareholder rights law ARUG II, which the Bundestag is …

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