Former Nestlé Chief Technology Officer Werner J. Bauer (67) resigned from the Supervisory Board of the Düsseldorf-based plant engineering company GEA last week “for personal reasons”. However, it does not threaten him with boredom: Bauer is still active in several supervisory bodies, including as deputy chairman of the supervisory board of Bertelsmann SE. His successor on the GEA Supervisory Board is the US American Colin Hall.
How independent are GEA controllers?
The 47-year-old investment director of the Belgian holding company Groupe Bruxelles Lambert, which has held a stake in GEA since 2017, is an “internationally experienced manager with extensive entrepreneurial and financial expertise,” said GEA Supervisory Board Chairman Helmut Perlet. “As a representative of a major shareholder, he is known for actively and constructively developing companies.” Paul Singer’s hedge fund Elliott Management had recently sharply criticised Perlet for the composition of the Supervisory Board. Because of “excessively long terms of office”, some inspectors – including Perlet – were no longer “independent”.