Erich Sixt

Manager of the Year: Sixt in front of Dommermuth and Riske

The analysis and consulting firm Obermatt has named family entrepreneur Erich Sixt “CEO of the Year” in the category “large German companies”. The 74-year-old head of the car rental company of the same name has been managing the company, which was founded in 1912, in the third generation since 1969. Sixt now has 2200 stations in over 100 countries and around 5000 employees, generating annual sales of more than two …

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KTG Agrar

Manager liability: Ex-KTG board members and supervisory board members in court

Civil litigation has begun in Hamburg against former members of the Management Board and Supervisory Board of the agricultural group KTG. Insolvency administrator Stefan Denkhaus is demanding a total of 189 million euros in damages from former boss Siegfried Hofreiter and seven other managers. The Hamburg Regional Court must now clarify whether Hofreiter & Co. played down the desolate situation of KTG Agrar at the expense of the creditors and …

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Engelbert Lütke Daldrup

Airport BER: Conflict between managing director and supervisory board members

At its meeting last Friday, the Supervisory Board of Berlin-Brandenburg Airport (FBB) decided on an important personnel matter: The committee headed by Chairman Rainer Bretschneider appointed civil engineer Carsten Wilmsen, who is currently responsible for real estate management at Munich Airport, as BER’s new Chief Technology Officer. On November 1, he will replace Jörg Marks, who had asked for termination of the contract. However, Wilmsen will not move up to …

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Cancom SE

Supervisory Board of the week: Klaus Weinmann

The founder, major shareholder and long-time CEO of the listed IT company Cancom SE resigns at his own request. Klaus Weinmann wants to concentrate more on the management of his investment company Primepulse from October. Following Weinmann’s recommendation to the Cancom Supervisory Board, his successor will be Board Member Thomas Volk. With Volk “an outstanding successor” was ready, said Weinmann. “”I am very pleased that the Supervisory Board unanimously supports …

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Succession planning: Coffee king Albert Darboven must tremble

Arthur Darboven wants to prevent his father Albert from placing the fate of the company in the hands of Andreas Jacobs. It threatens “a break with the values of the company and the family, which my cousins and I cannot and will not accept,” he said now in an interview with the magazine Capital. The Jacobs family “parted company with the coffee business many years ago”, and Andreas Jacobs is …

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Manager liability: boss loses, risk increases – also for supervisory board members

If managing directors and board members initiate payments even though the company is insolvent, they must answer for this with their private assets – even if they did not knowingly act and have taken out a manager liability insurance (D&O). This is the result of a recent ruling by the Düsseldorf Higher Regional Court (I-4 U 93/16), about which the media such as Legal Tribune Online and the Handelsblatt have …

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US governance: turning away from the shareholder value principle?

While the reform of the Code in Germany is a long time coming, public debates on corporate governance in the USA are in full swing. President Donald Trump, for example, urges that the obligation for quarterly reports be abolished. At the same time, the influential democrat Elizabeth Warren has presented a bill that provides for nothing less than a departure from the shareholder value principle of Anglo-Saxon character – and …

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Hans-Christoph hirt

Investors: Why Hans-Christoph Hirt is becoming more influential

The British shareholder advisor Hermes EOS has won a lucrative mandate: The large Australian pension fund First State Super has commissioned the British as a “commitment” service provider. Hermes EOS will thus support the fund company in exercising its ownership rights and coordinating them, for example, with annual general meetings. The mandate initially relates to share assets equivalent to around ten billion euros, further increasing the capital volume represented by …

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Nadine Kammerlander

Supervisory Board Member of the Week: Nadine Kammerlander (VARD)

Professor and Indus Supervisory Board member Nadine Kammerlander is the youngest member of the six-member Executive Board of the Association of Supervisory Boards in Germany (VARD). The physicist and business economist, who discussed the topic “Supervisory Board is not a question of age” on the panel at the German Supervisory Board Day (DART) in June, has headed the Chair for Family Businesses at WHU – Otto Beisheim School of Management …

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Sumner Redstone

USA: The Sumner Redstone corporate governance saga

A spectacular lawsuit begins in the USA in October: A court in Delaware must decide whether to disempower the 95-year-old major shareholder of the media group CBS, Sumner Redstone – and thus allow the action of its own management. Background: The patriarch is pushing for a merger of the two media groups Viacom and CBS, in which he and his 64-year-old daughter Shari each hold 80 percent. But CBS boss …

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Florian Haller

Ravensburger AG: Florian Haller replaces Freudenberg on the Supervisory Board

Wolfram Freudenberg has resigned from the Supervisory Board of game manufacturer Ravensburger after 20 years. Florian Haller has been appointed to the Supervisory Board for the 77-year-old, who is a shareholder of the Weinheim-based family group Freudenberg (Vileda). The 51-year-old is full-time managing director of the Serviceplan agency in Munich. Other well-known managers are represented on the six-member Ravensburger Supervisory Board, in particular former Hugo Boss CEO Claus-Dietrich Lahrs (55) …

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Guy Wyser-Pratte

OHB family business: Wyser-Pratte will not let up

The activist investor Guy Wyser-Pratte has again criticized the management structures at Bremen-based satellite manufacturer OHB. The company, which is dominated by the Fuchs family, has”no corporate governance” and”no committees on the Supervisory Board,” said the 78-year-old in a recent interview. Who thought that the activist lets loose, sees himself thereby of a better one instructed. Wyser-Pratte joined the company as a shareholder in 2017 and subsequently attacked the company …

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