Klaus Lutz

Baywa boss Klaus Lutz: The last Sun King?

It is one of the most critical portraits we have read in recent years: In its current issue, Manager Magazin writes about Klaus Lutz, who has been managing the fortunes of Germany’s largest agricultural group Baywa for ten years – and criticises his “big ego” and his “baroque and complacent management style”. The 60-year-old is an “autocrat who knows only subjects” and “understands every contradiction as an affront”. Now we …

Read More
Paul Singer

Supervisory Board Chairs: How Paul Singer Gains the Sovereignty of Interpretation

In its new issue, Manager Magazin examines the business practices of the hedge fund Elliott by Paul Singer, who among other things is targeting ThyssenKrupp – and raises important questions that also bother us (“Will aggressive shareholder cliques rule the country in the future?”). The authors combine their critical and well-researched “Inside Report” with a side blow against ThyssenKrupp’s ex-Supervisory Board Chairman Ulrich Lehner: He had allowed himself to be …

Read More
Aufsichtsräte

Campaigns: Why supervisory boards have to take the offensive now

An analysis of the “PR-Magazin”, worth reading, has sparked a discussion about whether and to what extent supervisory boards should communicate publicly. We believe this is how the majority opinion in the corporate governance community can be summed up: Yes, they should – but only on topics specific to the Supervisory Board and very cautious. We only agree halfway. In our opinion, the great reluctance towards the media shown by …

Read More
David Bonderman

Ryanair Chairman David Bondermann: If you don’t keep up with the times..

… goes with the times. Ryanair Chairman David Bonderman should take this wisdom to heart. Because the 75-year-old billionaire increasingly gives the impression that he wants old times back. Last year, for example, he had to leave the board of the US mobility service provider Uber after a derogatory remark about women. In response to a plea by his board colleague Arianna Huffington (Huffington Post) for more women in management …

Read More
Elmar Degenhart

Manuel Theisen vs. Elmar Degenhart: A Call for Moderation

The much-discussed”brand letter” to more than 400 executives of automotive supplier Conti was followed by a”fire interview” on Friday: Corporate governance expert Manuel Theisen described the letter as an admission by the Executive Board that it”failed in management” – and de facto demanded the resignation of CEO Elmar Degenhart:”Basically,” according to Professor Theisen, one sentence was missing from the fire letter:”And for this reason I resign immediately” To put it …

Read More
Diversity

Investors: How aggressive men drive companies before them

Shareholders who put loud pressure on board members and supervisory board members usually have testosterone in their blood: Guys like Guy Wyser-Pratte, Paul Singer (Elliott) and Daniel Loeb (Third Point), who radiate a subliminal aggression, dominate the scene of activist investors. Women of similar calibre are not yet in sight, and men also dominate among traditional investors: A recent survey by KPMG with the Fund Women Network shows that the …

Read More
Karl-Heinz Rummenigge

Karl-Heinz Rummenigge: When the buck becomes a gardener

German football would benefit from the DFL’s abolition of the“50+1” rule, thus facilitating the entry of investors. This is the opinion of Karl-Heinz Rummenigge, CEO of FC Bayern Munich – and added another one at the end of last week: “Our behaviour in this matter is somewhat smiled at here in the USA. We must stop promoting populism in this republic,” he said in a”inflammatory speech” during the club‘s trip …

Read More
Blackrock

Blackrock & Vanguard: Get out of the back rooms!

After being praised for years as an investor-friendly alternative to expensive active funds, index funds and their providers have recently come under greater criticism. There is talk of systemic risks, but also of a lack of exercise of shareholder rights (“commitment”). We have to get to grips with this, because after all the major providers have expanded their “commitment” in recent months. In the meantime, there are 30 employees”who visit …

Read More
Paul Achleitner

Paul Achleitner: No more castling – also on the Supervisory Board!

A current study by the management consultancy Strategy& reveals worrying facts: Germany’s CEOs are staying on board for ever shorter periods of time. In 2017 alone, 24 of the 300 largest companies changed their CEO – more than in five years. The average”length of stay” has thus fallen to 5.1 years (international average: seven years). The main reason: Germany’s leaders often have to leave early – according to the study, …

Read More

Dieter Zetsche: Is the dream of the Chairman of the Supervisory Board bursting?

The route seemed to have been marked out: After his departure as CEO, Dieter Zetsche was to wait two years before taking over the chairmanship of the Daimler Supervisory Board in 2021 in a sufficiently cool state. Until recently, this was “completely clear”, a member of the supervisory board told Manager Magazin. But after the recall of hundreds of thousands of diesel vehicles and in view of the investigations into …

Read More

Hiesinger & Lehner: Why the critics attack the wrong people

In football, kicking is frowned upon, but unfortunately it is common practice in the economy. We are experiencing this again in the ThyssenKrupp case: via former Executive Board Chairman Heinrich Hiesinger and also retired Supervisory Board Chairman Ulrich Lehner, there is a veritable hail of criticism from the entire spectrum of the economy. Ex-investment banker Dirk Notheis described the decisions of the two in a FAZ column as “frighteningly irresponsible”, …

Read More
Martin-Devid Herrenknecht

Herrenknecht Supervisory Board: When the Filius pushes to the top position

It was one of the most interesting interviews we have read in recent months: Manager Magazin interviewed Martin Herrenknecht and his son Martin-Devid (31) about succession planning with the world market leader for tunnel boring machines – and uncovered areas of conflict that usually do not become public in family businesses. The interviewers confronted the Filius with the fact that the Herrenknecht Supervisory Board – in which experienced controllers such …

Read More