Yngve Slyngstad (Deutsche Bank)

At Deutsche Bank’s Annual General Meeting on May 19, the long-time head of the Norwegian sovereign wealth fund will stand for election to the Supervisory Board: Yngve Slyngstad is to replace former Google security chief Gerhard Eschelbeck, who is stepping down after five years. The 59-year-old Norwegian led the world’s largest sovereign wealth fund for 13 years, where he focused on high ESG standards at an early stage. His nomination …

Read More

Bayer & Temasek – the economic war reaches the AGM season

There are good reasons to criticize Bayer’s strategy. But the fact that the sovereign wealth fund of an autocratic country is blowing the whistle right now should set alarm bells ringing. Bayer is facing a turbulent Annual Stockholders’ Meeting on April 29. This year, opposition is coming not only from the usual suspects, but also from major shareholder Temasek. The Singapore sovereign wealth fund, which holds four percent of the …

Read More

Stefan Sommer (Jost Werke)

Long-time top manager Manfred Wennemer is giving up one of his last posts: The 74-year-old is leaving the Supervisory Board of Jost Werke AG, which he has headed since 2017. His designated successor is long-time ZF Friedrichshafen CEO Stefan Sommer, who shareholders are expected to elect to the board at the annual general meeting in May. The commercial vehicle supplier is also proposing Deputy Chairman of the Supervisory Board Bernd …

Read More

Greenpeace, Amnesty & Co.: Who actually monitors the good guys?

Civil society organizations (NGOs) have a significant influence on political decision-making processes. High time to talk about their governance structures. Shortly after the outbreak of the war in Ukraine, a Greenpeace expert criticized the German government for not “stuffing even more money down the throat of the arms industry. In view of the impending hunger crisis, it must increase the development budget, demanded “Bread for the World” a little later. …

Read More

Katja Hessel (Deutsche Telekom)

Federal Finance Minister Christian Lindner is sending his Parliamentary State Secretary Katja Hessel to Deutsche Telekom: Shareholders are to elect the FDP politician to the supervisory board of the partly state-owned group at the shareholders’ meeting on April 7. The 50-year-old from Nuremberg joined the Bavarian state parliament in 2008 and moved to the Bundestag nine years later. Before her political career, Katja Hessel worked as a lawyer and tax …

Read More

More politicians on the supervisory boards!

Yes, you read that correctly. We would like to see more politicians on supervisory boards, even though up to now we have been calling almost mantra-like for “professionals” to be appointed instead. A 180-degree turnaround? Only at first glance. Putin’s brutal war of aggression in Ukraine is a shocking reminder that the geopolitical risks for companies have increased significantly. Many executive and supervisory boards now have to make painful decisions: …

Read More

Reinhard Ploss (KnorrBremse)

Outgoing Infineon CEO Reinhard Ploss is allowing himself just two months’ rest: After leaving the company on March 31, the 66-year-old will stand for election to the Supervisory Board of Knorr-Bremse at the end of May. He is then to take over as Chairman, replacing 78-year-old former Daimler manager Klaus Mangold. The change at the top of the Supervisory Board is “planned for the long term,” said Mangold. Reinhard Ploss …

Read More

Snabe vs. Kaeser: The end of multi-supervisory boards?

Overboarding: Busy controllers are increasingly being targeted by shareholders. Some recognize the signs of the times, others continue to collect items as if their working day had 24 hours Jim Hagemann Snabe is resigning from two posts at once: the former SAP CEO is leaving the supervisory boards of Allianz and Maersk, as was announced at the beginning of the month. This will give the 56-year-old more time to concentrate …

Read More

Corporate governance reform – traffic light proposal

Dear readers of GermanBoardNews, the topic of corporate governance does not play a significant role in the coalition agreement. Presumably, the SPD, the Greens and the FDP did not see any acute need for action after the Act to Strengthen Financial Market Integrity (FISG) came into force. I think that – and this will come as no surprise to them – is a mistake. To be sure, the FISG should …

Read More

Why the defense industry needs new supervisory boards

Nowhere does artificial intelligence raise more pressing ethical questions than when it comes to weapons. Are the supervisory boards of leading manufacturers and system suppliers prepared for the age of killer robots? Thanks to artificial intelligence (AI), autonomous weapons systems will decide on their own whether and whom to attack: That’s a real horror scenario. But it is becoming more realistic with each passing day. In December, the international ban …

Read More

Alessandra Genco (BASF)

The chemical company BASF wants to rejuvenate and internationalize its Supervisory Board: At the Annual Meeting in May, shareholders are to elect Alessandra Genco to the board. The 48-year-old works full-time as chief financial officer of the Italian aerospace and defense company Leonardo SpA (formerly Finmeccanica) in Rome. The former Goldman Sachs banker is joined in the election by ex-Bosch manager Stefan Asenkerschbaumer (65). The newcomers are to replace former …

Read More

Bock, Rabe, Reitzle – Why do supervisory boards approve share buybacks?

Corona crisis. Digitization. Climate protection. But instead of putting money aside or investing heavily, Dax companies are buying shares en masse. A revelation that reveals considerable problems in the supervisory boards Have you been rubbing your eyes in amazement, too? German companies plan to spend up to 17 billion euros on share buybacks, the Handelsblatt recently reported. A record figure. As if the Corona crisis had been over for a …

Read More