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VIPsight

Corporate Governance – portrayed in the individual cultural and legal framework, from the standpoint of equity capital.

VIPsight is a dynamic photo archive, sorted by nations and dates, by and for those interested in CG from all over the world.

VIPsight offers, every month:
transparent and independent current information / comments / facts and figures on corporate governance locally and internationally,

  • written by local CG experts,
  • selected and structured by the Club of Florence,
  • financed by its initiator VIP and other sponsors with a background of “Equity and Advisory” interests.
     

VIPsight International


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In a move to better meet customer requirements Gerresheimer has carried out a group restructuring programme and, with effect from January 2014, is shedding one of its four areas of operation. Stefan Grote, board member responsible for tubular and milled glass left the container and packaging manufacturer on 30 September for a position in the pharmaceutical and cosmetics industry.


Nemetschek, the software developer for the building industry, has enlarged its board of directors with new members Viktor Varkonyu and Sean Flaherty. A company communiqué states that the two managers have extensive knowledge of international markets as well as long experience in the software industry, combined with proved leadership skills. Varkonyu has been CEO with Graphisoft since 2009, while Flaherty has headed Nemetschek Vectorworks. Up to now, Nemetschek has been led by Tobias Wagner. This move is expected to launch the company into a position of leadership in the AECO (Architecture, Engineering, Construction and Owner-operated) and design industries and take advantage of the substantial opportunities for growth deriving from the rapid technological changes and computerisation presently taking place in the building industry. Nemetschek is still seeking a CFO.


René Obermann has been designated to replace Beatrice Weder di Mauro on the supervisory board of ThyssenKrupp. Ms Weder di Mauro is continuing her leave of absence from her board membership in order to dedicate more time to her new position as consultant to the European Union. Her mandate will expire in early 2015. Prof Weder di Mauro is also n the supervisory boards of  UBS, Roche and recently also of Bosch. Fifty-year old Obermann intends tendering his resignation from Deutsche Telekom at the end of the year.

 

 

Basler: one man, two hats

As from 2014 Hardy Mehl will be CFO and COO of Basler AG, the German manufacturer and developer of professional digital cameras. With this new department – Finance and Operations –  the number of members of the board of management rises to four. Previously, this area was mostly covered by Board Chairman Dietmar Ley, and former head of operations, Arndt Bake. Mehl has been with Basler for 14 years and has directed the area of Business Management since 2012. As CFO he will be the bearer of good news at the beginning of 2014 since the company recently increased its profit target for 2013. Basler is a Prime Standard listed company.


Leifheit: New chief on the way

Leifheit AG, Prime Standard listed producer of household goods has identified Thomas Radke as new CEO to fill the position left vacant by Georg Thaller who resigned in May 2013. Radke, presently CEO of Herlitz AG will take up his new post by April 2014 at the latest. In the meantime, management will remain in the hands of CFO Claus-Otto Zacharias who is leading the company as managing director. In addition to his duties as CEO, Radke will also be responsible for marketing, development and distribution.

Radke made his reputation as an executive in a series of companies including Carl Zeiss Vision, Procter & Gamble and Henkel. The supervisory board expects his expertise in marketing brand-name goods to sharpen the Leifheit image. The exact date of Radke’s arrival will be made known as soon as he has concluded negotiating the terms of severance of his present position.


Balda: no stone left unturned

The storm continues. During an extraordinary general meeting in September, major shareholder Elector successfuly moved for a renewal of the supervisory board and now the newly appointed CEO has to go. Balda CEO and CFO Dominik Müser has been removed from his post with immediate effect while, in the meantime, the supervisory board has appointed Oliver Oechsle as additional member of the board of management. Oechsle has proven expertise in the technical aspects of medicine and enjoys the trust of the new chairman of the supervisory board and Elector representative, Thomas van Aubel. He is a backer of Dieter Brenken who was recently appointed to the board of management and this latest appointment seems another brick in the wall towards van Aubell’s ambition to head the company in a new direction.

In the meantime, the board of management is looking into the circumstances of certain business activities that took place during the Müser administration. However, the new supervisory board of plastics manufacturer Balda is also encountering pockets of resistance. Two shareholders have lodged an appeal to annul the election of the supervisory board. The major shareholders are alleged to have entered secret agreements and the chairman of the board to have a debatable past.