Stock exchange & quarterly reports: Oliver Bäte on Wiedeking’s tracks

We could write a lot of critical things about Wendelin Wiedeking, but he was right on one thing: The long-standing Porsche boss has persistently resisted the idea that companies on the stock exchange must publish quarterly reports. “We don’t even want to get into the short-winded view, which is based on quarterly targets,” Wiedeking once told Der Spiegel. Almost 20 years later, Allianz CEO Oliver Bäte is following in Wiedeking’s …

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Stefan Oschmann

Stefan Oschmann: Family entrepreneur spirit in a large corporation

The Darmstadt-based pharmaceutical group Merck, which is rich in tradition, has a very special structure: The “members of the Executive Board” around CEO Stefan Oschmann are also personally liable partners. In case of emergency “the first thing I do is lose my private money”, Oschmann said recently in an interview. “I’m fully adhered.” And even beyond that, the top managers at Merck KGaA are almost on a par with real …

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Herbert Diess

VW boss Herbert Diess: Cultural change through new bonuses?

The problem with many compensation systems is that managers have great opportunities for lavish bonuses, but hardly any risks. Entrepreneurial thinking is not encouraged in this way – on the contrary: the system creates incentives to increase sales and/or profits in the short term, which is often at the expense of long-term development opportunities (keyword reputation). For this reason it is, in our view, a logical reaction to the diesel …

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Appeal to Weimer & Jetter: Make the stock exchange a better place

Ulrich Seibert of the Federal Ministry of Justice pointed out the delisting trend at the German Supervisory Board Congress (DART) in November: More and more companies are saying goodbye to the stock market. And this is not just because private equity investors are swimming in money and buying up companies. Another major cause is the pressure from impatient investors, which in our view is a fire hazard: Time and again, …

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Public Governance

Henriette Reker: Cologne code against Cologne clique?

Whether you support it or not, we are experiencing a renaissance of industrial policy. Politicians of all stripes are placing growing hopes in public companies – especially with a view to climate protection: Rail should become a real alternative to domestic flights. Municipal transport companies are to develop innovative mobility platforms. Public utilities are to produce green electricity and build charging stations for electric cars. However, we fear that as …

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Armin Laschet

Armin Laschet vs. Stephan Weil: Who is the father of corporate governance?

Stephan Weil fights tirelessly for the automotive industry. Anyone who says that in ten years’ time there will no longer be any combustion engines will “see the most important industry in this country against the wall”, said the SPD politician last week. The problem: As a listener one wonders who is speaking – the Prime Minister of Lower Saxony, who is committed to the welfare of all citizens? Or the …

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Robert Bosch

Medium-sized companies: On the trail of Robert Bosch

We had to point this out again last week for a sad reason: The Krupp Foundation suffers from severe design defects – and so does the company. The counterexample is Robert Bosch GmbH, which thanks to intelligent governance structures can play off the advantages of a foundation company and has been a success for generations. We are convinced that more Bosch would be good for Germany as a business location, …

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Cewe chairman of the board Korte: When Labour & Capital Merge

Good for business, good for society: Employee share ownership encourages entrepreneurial thinking just as much as a more even distribution of wealth. This seems particularly important to us at present, because digitisation dividends strengthen the capital factor and increase inequality. This development is water on the mills of populists; there is a threat of redistribution excesses that restrict entrepreneurial freedom. Unfortunately, however, only one third of listed companies offer employee …

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Herbert Hainer

Herbert Hainer: A governance reformer for FC Bayern?

FC Bayern Munich in the “Tops” of the GermanBoardNews? Some will rub their eyes in amazement after we have often criticized the club. Because of Uli Hoeneß, who returned to the top of the supervisory board after his prison sentence. Because of the Alphatier Supervisory Board. Because of the term of office of Karl-Heinz Rummenigge. But now the cards are being reshuffled: since last week it has been clear that …

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Marion Helmes

Marion Helmes & Martina Merz: They just have to say “no” to learn

In addition to the usual suspects such as Ann-Kristin Achleitner, other women join the ranks of the most powerful supervisory boards: ThyssenKrupp Supervisory Board Chairman Martina Merz, ProSiebenSat1 inspector Marion Helmes and former BASF manager Margret Suckale have made it into the top 25 in a current ranking. This is gratifying, especially as the rise shows: More and more women occupy central positions within the committees. The quota of women …

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St. Pauli

FC St. Pauli: The Governance Champion in Professional Football

Almost a year ago, we described Andreas Rettig as a “governance mastermind” in professional football. The managing director of FC St. Pauli had warned against opening up the Bundesliga to investors at the time – and had put forward weighty business arguments instead of nostalgic ones. We are in line with him and are convinced that good corporate management is the key to improving the international competitiveness of German football. …

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