Voith Shareholders’ Committee: Why was it, Hans-Peter Keitel?

Hans-Peter Keitel

After only seven months in office, Voith CEO Stephan Schaller surprisingly threw in the towel – “for personal reasons,” as a press release says. According to Handelsblatt, however, there were “obviously different views” between the former BMW motorcycle boss and the shareholders on “how to run a family business”. Be that as it may, the appointment of Schaller, who had previously been a member of the Shareholders’ Committee for almost three years, proved to be a mistake.

Hope for Siegfried Russwurm

And the former Hochtief CEO Hans-Peter Keitel, who heads the Voith Supervisory Board and the Shareholders’ Committee in personal union, must be the first to be chastised. The first step to exploit the gap has already been taken with the appointment of CFO Toralf Haag as the new CEO – and we hope that Keitel will now analyse in the second step whether the Shareholders’ Committee responsible for personnel matters is well positioned enough to prevent mistakes from repeating themselves. Ex-Siemens board member Siegfried Russwurm, who was appointed in March and who as an independent member could be an important addition to the family representatives and Schaller predecessor Hubert Lienhard, gives us hope.