Rarely have so many leaders had to leave their Posts this year. German top managers were fired by the Supervisory Board from activist investors annoyed – or even by prosecutors arrested. Bringing the former corporate leaders deal with now – and why some real quiet. Of The Overview.
Rupert Stadler: free Again, but still, still
After leaving Audi-in-chief Rupert Stadler for the first time on the diving station. His eleven and a half years long Era as chief Executive of VW’s luxury subsidiary Audi came to an abrupt end in the summer: On 19. June 2018, could prosecutors the long-standing Audi CEO Rupert Stadler arrest. Because he should have tried to influence witnesses, had to Stadler because of “the risk of collusion detention” for months and months in investigation. Audi leave Stadler, first of all, in October, the Volkswagen group is separated permanently from Stadler. At the beginning of November it managed to Stadler’s lawyers to get him bail from the detention.
Since its release it has become the car Manager still. In the case of cultural or sport events in Ingolstadt, Germany, Stadler did not look, – is said in Reports of the South German media. For the complete withdrawal from the Public Stadler has good reasons for this: among his bail conditions is also a ban on Contact to persons responsible for the investigation to be relevant.
the state’s lawyers to have charges against him rise, is likely to be – the indictment should be in the late spring of 2019. Until then, Stadler is likely to have numerous appointments with his lawyers to his defense strategy.
Matthias Müller: For Advisor
Of his impending expulsion demoted, he should have only learned hours earlier: On 12. In April 2018, ended the Matthias Miller as VW-head of the group, quite abruptly. The VW Supervisory Board, replacing him with the former Volkswagen brand boss, Herbert Diess. The reasons for müller’s expulsion should have been some of the media alone, and a growing alienation of the VW-owner families Porsche and Piech. When Muller had controlled the group quite successfully through the lowlands of the exhaust gas scandal and the turning direction of the electric mobility ushered in.
On a public VW-events the Manager has not been spotted since then, however, he is connected to his old employer for over a year. Müller’s management Board contract runs until the end of February 2020. Until then, he is the company in an Advisory capacity, it said in April.
What does he do exactly, can’t answer the group. About Miller’s Advisory activities confidentiality had been agreed upon, it is called on demand. A severance payment is not received by Müller. For this, he conceded his Executive salary, which was good, years ago for 10 million euros.
John Cryan: retreat in the USA
Europe’s first goodbye – this is the motto John lives on after his kicking at the Deutsche Bank . On 8. April, the British-born, was removed as head of the largest German banking house, and through Christian Sewing to be replaced. German-Bank-chief inspector Paul Achleitner said that Cryan decisions slowly and implemented were taken.
well-Known declared Cryan since then, that he be privatised are now for the first time. During his retreat, Cryan’s pretty consistently. The center of his life, he moved from Frankfurt to the United States: He now lives in Annapolis, near Washington, where his wife, Mary, has for almost a decade, a property.
In early summer, he cut a further connection to Europe: He retired as Chairman of the British Foundation Gabrieli, classical music is staged. Only one connection in Europe’s financial scene, he still holds: The British hedge Fund Man, he remains the Group until at least 2020 in the Board. Similar to rigorously Cryan was taken after his farewell at UBS in 2011.
Kurt Bock: First experience as a sub-inspector
In his farewell as chief at the annual General meeting of the BASF may Kurt Bock with the critics, who had accused him of entrepreneurial despondency, reckoned harsh and public. Who have visions, should better go to the doctor, quoted the sober East Westphalian at the time, the former German Chancellor Helmut Schmidt.
Since then, it became completely quiet around him. In fact, Bock has to cool down. In may of 2020 at age site in Ludwigshafen, Germany the Supervisory Board Chairman Jürgen Hambrecht.
goat now, especially in exclusive circles as the schmalenbach-Gesellschaft, the Jacob Gould Schurman-Foundation, or the donors ‘ Association for German science. In addition, it collects in the Supervisory boards of BMW and Munich re’s experience as a sub-inspector. His life focus is, as before, of Heidelberg. From there, he has it later on, not far to the BASF.
Heinrich Hiesinger: house work instead of steel-group-tag
Immediately after the Heinrich Hiesinger annoyed at the beginning of July by the two major shareholders, the Krupp Foundation and Cevian his Post as a chief ThyssenKrupp hinsch miss, he admitted his office. To made home, the engineer at there remaining tasks. The irrigation system in the garden, he brought in the shot. Also the lighting he took care of.
Until Further notice, he remains withdrawn. For those who appreciate his opinion, but he is accessible. From time to time, I will go to Munich to BMW, where he has been a member since 2017, to the Supervisory Board.
Carsten: the fight with a legal legacy
Carsten , until the autumn of 2017 Chairman of the Executive Board of Deutsche Börse , privatized until Further notice. Before he trained as an investment banker (Goldman Sachs, UBS), for Supervisory and Advisory Board mandates satisfaction is capable of, must be disposed of in a legally precarious legacy. Still, the Frankfurt public Prosecutor’s office determined against He on suspicion of insider trading. He denies the allegations and is wrongly accused.
The matter is tricky and has its cause in a remuneration package of the Supervisory Board of the stock exchange in the autumn of 2015 specifically for He. The former stock exchange chief, should acquire by the end of December 2015, the shares of his employer to the value of EUR 4.5 million from his own fortune, wanted to pack the stock exchange once more free shares to the value of 4.5 million euros. Because He and his Chairman of the Supervisory Board Joachim Faber languages just at this time a merger with the London Stock Exchange, the Frankfurt prosecutors later, the investigation on suspicion of insider trading.
in the autumn of 2016, Faber tried to end the process with a Deal. 10.5 million euros should be invested with the consent of the exchange Supervisory Board and Executive Board in setting and legal peace. 10 million wanted to put the company, the 500,000 should come from He. The trade was vetoed by the district court in Frankfurt. Among other reasons, because the Federal office for supervision of financial services, which is also behind the investigation of the prosecutors stand on a payment Kengeters throbbed, the should at least skim the profits from the controversial Deal.
Now Chairman of the Supervisory Board Faber seems to be on a new start-up. The stock exchange offer will therefore continue to be 10 million euros, He even has to pay five million euros. Of Bafin, a company that He and Faber no confirmation was received, the requests either remained unanswered or were returned with the endorsement “no comment”. Within Bafin, it only means that there had been “movement in the matter”.