The president of the Krupp Foundation reportedly spoke to competitors about the merger of the elevator division

Over the weekend, the Handelsblatt learned from corporate circles circles that show deep conflict. As a result, the owners of the Finnish elevator manufacturer Kone approached Gather two years ago. Your request: a merger with Thyssen-Krupp elevator division.

Gathering Received Principal Shareholder Kone Antti Herlin

And although Gather, as chairman of the board of directors, did not have the mandate to even speak of these matters, she was ready for a meeting. Gather received Kone's billionaire and main shareholder, Antti Herlin, at Villa Hügel, the founding seat and former home of the founding family Krupp in Essen

Thereafter, Herlin wrote a letter to Thyssen-Krupp. Was the group management also ready for a meeting? CEO Heinrich Hiesinger declined the friendship, but clearly. Submission of the most profitable division to a competitor was out of the question for him.

Without company revenues with elevators and escalators, the Ruhr company could not rehabilitate its other divisions. The elevator division is an integral part of Thyssen-Krupp, says a senior manager. Hiesinger and the Council have had this point of view for years

Gather did not comment on why she met with Kone Herlin's main shareholder. Last weekend, the Foundation declared at the request of the Handelsblatt: "For the contact requested by the majority shareholder of Kone, the Foundation has always referred to the responsibility of the company for matters relating to in the elevator sector. The Thyssen-Krupp AG Board of Directors has always been informed of the guided discussions. The company is solely responsible for comments and decisions on competitors' requests. "

This is precisely why Gather's action is grotesque to the group's insiders." As chair of the board of directors, she is responsible for the Foundation's funding programs and not of the foundation's asset management.According to the foundation's bylaws, this task falls to the board of directors.Gather does not have the mandate to discuss with third parties the purchase or the sale of Thyssen-Krupp

An assignment of the elevator division, which represents up to 50% of the consolidated profit, would also be a violation of the wishes of Alfried Krupp The last sole owner of the traditional German company died in 1967. Shortly before his death, he founded a foundation in which he contributed all his fortune – including all the shares of the company.

In the founding charter, Krupp referred to his last will, in the which he determined the purpose of the foundation. The first point: "The unit of the company Fried.Krupp to preserve the will of his ancestors for the future." Since then, a lot of things have happened. It was followed by several acquisitions. After years of negotiations with the Thyssen Group, the company emerged in 1999, as we know it today: a conglomerate with several divisions that support each other.

However, in 2006, Berthold Beitz decided to become the trusted partner of Alfried Krupp and Plenipotentiary, for the construction of a steel plant in Brazil. It was the biggest bad investment in the history of the company. It eventually led to losses of ten billion euros. In 2011, the management of the company had to break the will of Patriarch Alfried Krupp. Several divisions have been postponed. Berthold Beitz died in 2013.

Gather s' addressed to the Thyssen Supervisory Board

The Foundation appointed Ursula Gather, Rector of the University of Dortmund, as his successor. The mathematician Gather was considered very talented and ambitious. But was it enough? Gather is an excellent scientist. But she has never worked in a big company. She knew nothing of Thyssen-Krupp's business or the banks of finance or hedge fund practices when she was considering a company.

It did not seem necessary either. As a member of the board of directors, it was not Gather's job to occupy Thyssen-Krupp's operations. She was responsible for the other concerns of the foundation. It supports science and research, promotes education, health care, culture and sports.

Even though Gather was unable to meet with Thyssen-Krupp's competitors, their conversations could not actually hurt. After all, she had no warrant. But that changed in January 2018. Gather took the seat of Ralf Nentwig on the supervisory board of Thyssen-Krupp AG. She was inspired by a special right of the foundation and sent to the board of directors. Now she had a job that allowed her to influence Thyssen-Krupp's business.

Since then, Gather reportedly spoke to Jens Tischendorf, who sits on the Cevian board of directors. The financial investor holds 18 percent of the group and is considered a sharp criticism of the strategy of Thyssen's boss recently resigned Hiesinger. Cevian also involved a sale of the elevator division

The apparent proximity of Gather and Cevian has angered Thyssen-Krupp employees. While financial investors took their CEO into the shortage, the foundation remained silent. Hiesinger saw the signs on the wall – and left, as seen by the workforce. "Sad, angry and disappointed," they said in a letter to Gather. The chairman of the board of directors did not "support the man Berthold Beitz helped to save our society as he deserved."

Gather claimed his innocence. His confidants point out that Gather has always voted on the supervisory board for Hiesinger's plans. Critics on Hiesinger's strategy

According to critics, by contrast, she would have dispelled doubts about Hiesinger's strategy in discussions with other supervisory boards since January. At the meeting on Friday, the foundation wanted to pacify the situation. It should be created the ground for a compromise, it was said.

This is necessary because Ulrich Lehner, the head of the supervisory board, is looking for a successor for Hiesinger. Chief Financial Officer Guido Kerkhoff took the job only temporarily. The future boss should be supported by everyone, the Foundation and Cevian, he said in high-level circles. This is the only way for him to rest to rebuild Thyssen-Krupp.

The interest of foreigners in the most attractive segment of Thyssen-Krupp will not stop there. The thrust of Kone's owners was not a surprise. For years, Thyssen-Krupp had been trying to merge lifting activities with Finnish society. But in 2006, it was over with this effort.

The EU Commission investigated the so-called elevator cartel. Five manufacturers have made extensive price fixing. Thyssen-Krupp was the one who cost the scandal the most with a fine of half a billion euros, Kone came out with less than a third of the money. fine.

The Finns had unpacked. In exchange for a full statement, Kone has achieved key witness status and therefore a significant reduction in the EU. The "betrayal" Beitz called him at the time was followed by his instructions to all managers: no more discussions with Kone. Hiesinger is held there. Do not collect. Now he is not here anymore.