D The good figure belongs to the repertoire of a top manager. Even if in the background a bad game is running. Or just then. A few days ago, Heinrich Hiesinger performed well – in Brussels, where he presented as a ThyssenKrupp CEO a multi-billion dollar joint venture in which the Dax group carries out its steel business and the Indian competitor Tata Steel its activity. European.
This is an important step. We are creating something big, "said Hiesinger, appearing both enthusiastic and relaxed on the big stage.Considerable.Because he had finally found a solution for the highly cyclical activity of the company. As a result, ThyssenKrupp may finally and for a long time become a strong technology and engineering group.
However, the implementation is now at the expense of someone else. Because, after the completion of the steel case Hiesinger does not want to make a good face.Although the game in the background has recently become more and more bad.So, the 58-year-old resigned.The trigger would have been the vote on the steel merger at the Supervisory Board at the end of June.Although Hiesinger spoke after an "exceptional vote"
What Tata and Thyssen-Krupp merge for investors
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The marriage of steel between Tata Steel and Thyssen-Krupp is perfect. This will create the second largest European steel group. What is the boss of Thyssen-Krupp, Heinrich Hiesinger, hoping?
But this too can be confidently attributed to the "good-looking" category. Although 17 out of 20 votes according to Hiesinger's strategy seem at first clear. In the world of ThyssenKrupp with its own laws, however, this equates to a vote of no confidence.
Long atmospheric disturbances
For a long time, atmospheric disturbances have been spoken behind the scenes between management and the supervisory board. But now they come to light. Jens Tischendorf, the representative of Cevian Capital, the majority shareholder already critical of Hiesinger, would have voted against the merger agreement, as well as former Telekom CEO René Obermann. There was an abstention, according to the circles of Carola Countess von Schmettow, who heads the German branch of HSBC Bank.
But that does not even seem to be the worst. Hiesinger is especially disappointed by the Krupp Foundation, as it is called, the main shareholder of the company. Formerly an important source of inspiration for the district society, it became rather quiet after the death of Berthold Beitz at the institution. From Hiesinger's point of view too calm. "There are two main shareholders, a campaign against the management – and the other ducks are moving away," the company's environment is said to say.
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And indeed, Ursula Gather, chairman of the board of foundation and Representative of the Foundation, sits on the Supervisory Board Even though it is under the pressure of financial investors who are demanding more courage and speed in the transformation of the company and also cause a break in the process even after calls for help.
But even after the resignation, it takes a long time for Villa Hügel's position. Finally, on Friday afternoon, a press release, in which Alfried Krupp von Bohlen and the Halbach Foundation express his decency about the retirement of the CEO, arrives. "Dr. Hiesinger took responsibility sometime in 2011 for the future viability of the Group," he says succinctly.
Employees pay tribute to the manager
Shareholder representatives are surprised. Here, it was badumed that the mission of the foundation is to preserve the unity of the group, says for example Thomas Hechtfischer of the German Schutzvereinigung für Wertpapierbesitz.
The disappointment of Hiesinger is shown in a letter to WELT employees "The common understanding of the Executive Board, the Supervisory Board and the main shareholders on ThyssenKrupp's strategic direction was an important prerequisite for my success as CEO of ThyssenKrupp," he writes to staff. [19659018] Read also
So he deliberately took this step, "to have a fundamental discussion about the future development of ThyssenKrupp in the future". The recipients are deeply shocked. "Only this time would have wanted so much, it would be less consistent," write employees in social networks. "But Hiesinger would not be Hiesinger either."
The word consequence always occurs when companions talk about Hiesinger, as well as concepts such as style and decency or attitude and attention. The human being Heinrich Hiesinger obviously enjoys the greatest respect and admiration in the company and beyond. "It's a sad day for ThyssenKrupp," he says from the company's headquarters in Essen.
"Without him, ThyssenKrupp would no longer be there"
Even long-time opponents respect, like Detlef Wetzel, long-time head of the IG Metall union and vice-chairman of the supervisory board of ThyssenKrupp Steel Europe: "Even though we often disagree were – Mr. Hiesinger is a person of integrity, "said employee representative at the" WAZ ". Above all, the treatment and the nature of the swabian farmer's son are rented. "It's not only what's important, but what's important," says Twitter's comments on the manager's departure
. However, this sentence suggests that there is a difference between the man and the manager Heinrich Hiesinger. Although the merits of 58 years have been unchallenged since taking office in January 2011, "without Heinrich Hiesinger, ThyssenKrupp would not exist anymore," said Ulrich Lehner, chairman of the Supervisory Board.
Psychotherapist Christian Dogs
Under his leadership, the Board had released the company from a crisis that threatened its existence and made it sustainable for the implementation of the strategy agreed with the Supervisory Board, adds Henkel -Chef, who until the end was considered a kind of patron saint of Hiesinger.
It is above all the disaster of the construction of two steel mills in Brazil and the United States, which cost ThyssenKrupp an amount of up to a billion and brought it temporarily. on the brink of ruin, but also the change of corporate culture. ,
Hedge funds involve breakage
However, just recently, strategic development has stopped. For example, talks on the proposed steel merger lasted more than two years – and, in the end, apparently, only a few were satisfied. The stock market has in any case reacted disappointed with the results. Experts complain, among other things, that the difference in value between Thyssen and Tata Steel has not been sufficiently taken into account.
True, the Dax group gets five percent more of the proceeds in the event of a possible IPO of the joint venture. The chief financial officer, Guido Kerkhoff, is voiced in front of badysts, but only from a manageable three-figure amount. According to industry observers, the difference in value is 2.5 billion euros
Source: Infografik WELT
In the shadow of the merger, the other divisions do not are not developed as quickly as expected, depending on the market. This refers to high-margin activities, such as activities with elevators, submarines, large factories and auto parts. The majority shareholder Cevian and the controversial American hedge fund Elliott, which now holds about 3% of the shares, are already making a dent in the game.
Hiesinger has always refused, for him ThyssenKrupp has a future as a business and not in individual parts. But the father of the family is accused of melancholy. "Industrial logic is decisive for restructuring – not taboos, historical development, emotions or personal ambitions," said Lars Förberg, founding partner of Cevian, last weekend.
Hiesinger's work remains unfinished
would not have diminished in the weeks and months to come. At a time when important decisions are needed. A re-sharpening of the strategy announced the former boss of Siemens just a few days ago. This apparently also includes sales plans of the steel trading business or even the shipyard division. If the Cevian and Elliott would have served, however, remains debatable.
So, Hiesinger prefers to pull the ripcord early – and finally remains unfinished. "He is a very thoughtful person," he says in his environment. "He objectively badyzed the current situation and then acted consistently." Because he still had the business booklet in his own hands. "This independence is important to him."
The search for a new boss might be difficult to decide in this mixed situation, especially since staff skepticism will be great for the successor to the charismatic Hiesinger. And this is also suggested by the personal letter, at the end of which the outgoing manager asks the staff to maintain their attitude, their confidence and their courage.
Just like him. "I say thank you It was an honor for me to run this business."
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