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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

Article Index





Photo: BrauchitschOn May 7, 2015 Oliver Bäte will take over the presidency of the Allianz management board in place of Michael Diekmann. In a communiqué, Herlmut Perlet, chair of the Supervisory Board went to some lengths to praise Diekman’s performance, above all the ability he showed in leading the company through the financial crisis. The 59-year-old is expected to join the Supervisory Board in 2017. It was recently rumoured in certain quarters of the media that Diekman’s contract was to be extended. Bäte had for some time been seen as heir apparent despite not having risen through the ranks at Allianz. He served as CFO, and lately was head of the insurance business in South and East Europe. The new head of the management board joined Allianz in 2008 from McKinsey where his last responsibility had been Director of the Insurance and Asset-Management business area in Europe. A further addition to Allianz’s management board is Sergio Balbinot chairman of Italian competitor Generali. Hans-Martin Buhlmann (VIP) likened it to a “strong flame lit by Mario Greco and now in the hands of Helmut Perlet”. A further seat on the management board is being assigned to Alex Theis whose efforts turned Allianz’s industrial insurance business into a highly profitable business. Towards the end of the year, Clemens Booth will quit the management board for reasons of age, while Gary Bhojwani will resign on mutually agreed terms.


Thomas Richter new Deputy Chairman at global funds association IIFA

Canberra, 23 October 2014 — Thomas Richter, CEO of the German Investment Funds Association (BVI) was appointed Deputy Chairman of the International Investment Funds Association (IIFA). This election took place at the Annual General Meeting in Canberra, Australia. Thomas Richter said: "This appointment reflects the international recognition of the BVI's work." Along with Paul Stevens of the Investment Company Institute ICI, who is the newly elected Chairman of the IIFA for two years, Richter will focus on a stronger positioning of the investment industry with regard to global regulation initiatives. At present, the IIFA is concentrating on topics such as shadow banking regulation and the global exchange of tax information by the financial authorities.

The IIFA represents the interests of the fund industry world-wide and is the central point of contact for in ternational institutions and organisations such as the IOSCO, the Financial Stability Board and the OECD. The 40+ IIFA members from six continents manage assets of USD 32 trillion. The IIFA is dedicated to promoting an understanding between the investment industry, politics and regulators as well as improving the overall conditions for investors. As a founding member, the BVI has been with the IIFA since 1986


On December 1, Sanjeev Gandhi will join the management board of BASF and, effective May 1, 2015, will look after the Asian market. Indian by birth, Ghandi has been in charge of Intermediates since 2010. From next shareholders’ meeting on April 30, 2015, which is the expiry date of his mandate, Andreas Kreimeyer will resign his post and go into retirement. His role of spokesperson for research will be taken on by Deputy CEO Dr. Martin Brudermüller.


Photo: BrauchitschThe Tribunal of Cologne Has appointed Professor Otmar D. Wiestler new member of the Bayer Supervisory Board. Nine years into his appointment, Klaus Kleinfeld resigned from the Supervisory Board with effect from end September in order to dedicate himself to the mandates and honorary positions he also holds in the United States. Wiestler has been chairman and scientific member of the management board of DeutschesKrebsforschungszentrum in Heidelberg


Bernhard Walter who has been chairperson of the Bilfinger Supervisory Board since 2006, is quitting his position with effect November 4 because of ill-health. On October 2, Swedish investor Cevian proposed Eckhard Cordes as second representative of the Supervisory Board. Herbert Bodner announced his decision not to return to the Board on October 13. His position had been kept pending held since he moved to the management board, and will revert to availability from November 13. Apart from that, Joachim Müller is resigning on terms agreed on in order to explore new challenges, but will remain until a replacement CFO is appointed.


Photo: BrauchitschAfter almost ten years as head of Deutsche Börse, Reto Francioni will pass the presidency of the management board to Carsten Kengeter on the occasion of the shareholders meeting on May 13, 2015. Swiss-born Francioni’s contract with Germany’s largest bourse management concern actually expires in October 2016. Kengeter will join the management board of Deutsche Börse in April 2015 and will become its president on June 1.


After a short spell back in Goldman Sachs, investment banker and former CFO of E.ON Marcus Schenck will become the new CFO of Deutsche Bank. According to the announcement, the present CFO Stefan Krause will head the new Strategy and Operational Excellence business area, planning the bank’s long-term future. Krause has been studying for this new role for some time. During the Summer he came under fire; certain interested parties published a seven-months old j’accuse drafted by the Federal Reserve citing accounting practices said to be slack. Likewise, Christian Sewing, hitherto Group Head of Audit , responsible for internal auditing, is expected to join the management board.


Michael Diekmann has been put forward as a candidate for the Supervisory Board of Fresenius SE, from the next shareholders’ meeting. A note dated October 23, mentioned that if anything, Diekmann, who is quitting the presidency of the management board at Allianz on May 2015, would be a good candidate for the vice presidency of the Supervisory Board, presently vacant. This supplementary election has arisen as a consequence of the death of Gerhard Rupprecht in a climbing accident.


The Supervisory Board of MDax listed HOCHTIEF of Essen elected Pedro Lopez Jiménez its new president on October 1. The 71-year old will take the place of incumbent Thomas Eichelmann who is resigning. His seat on the Board will be taken next week by 53-year old Christine Wolff who had already sat on the Board from mid 2012 to January 2013.


Telegate: Management board reconfiguration

Telegate AG, the Prime Standard-listed regional advertising and telephone information company, has appointed its CFO, Franz Peter Weber, as the new spokesperson for the management board. The board chairman Elio Schiavo resigned in October of his own volition and on agreed terms. Since 2011, Schiavo had been working towards improving the company’s computerised business. On leaving Telegate, he moved to Apple. At the same time, the Telegate Supervisory Board appointed the former head of technical services Michael Geiger to the management board CdA.


Realtech: An unexpected adieu

Thomas Mayerbacher, chair of the management board of General Standard-listed Realtech AG tendered his resignation at the end of October effective immediately. The reason for the split are said to lie in differences of opinion on how the IT consultancy ought to be managed. Both management and Supervisory boards expressed their thanks to Mayerbacher for his accomplishments. After joining the SME in early 2000, Mayerbacher held a number of executive positions prior to his appointment as CEO in 2013. A graduate in management engineering, he had previously worked in Deloitte & Touche. So far, Realtech has appointed no successor.


Maternus - Kliniken: Quick change

Effective end September, Götz Leschonsky resigned as spokesperson for the management board of Maternus-Kliiken AG. Shortly beforehand, the Supervisory Board had terminated the contract of management board member Frank J. Alemany. Michael Thanheiser of the company’s Supervisory Board has been seconded to the board of management for the duration of one year. General Standard listed Maternus, has made no comment on the resignation of the two management board members.


Mybet: Finance specialist comes aboard

As of mid-November, online gambling concern Mybet Holding SE has a new CFO. Markus Peuler is the new head of financial affairs which since January 2014 had been handled by CEO and former managing director Sven Ivo Brick. Peuler has more than ten years experience in digital business, firstly with Deloitte then in the sales of Jamba cell phone apps. In 2009 he was appointed director of Jesta Digital GmbH which is now owned by Freenet AG.