Home » BayWa: CEO Pöllinger stays, supervisory board leaves

BayWa: CEO Pöllinger stays, supervisory board leaves

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BayWa: CEO Pöllinger stays, supervisory board leaves

The leadership crisis at BayWa has taken an unexpected turn. It was actually expected that CEO Marcus Pöllinger would be dismissed by the supervisory board today. But now things turned out differently: the CEO stayed. Instead, the chairman of the supervisory board, Klaus-Josef Lutz, throws in the towel and leaves.

Relationship between the board of directors and the supervisory board is broken

This extraordinary supervisory board meeting at BayWa must have been turbulent. According to company circles, the meeting was actually supposed to be about a compliance case involving CEO Marcus Pöllinger. The 45-year-old business economist is said to have violated the rules of good corporate governance, company circles said in advance.

It was also said that the CEO of the Munich conglomerate is said to have lost the trust of the chairman of the supervisory board, Klaus-Josef Lutz. At least that could be true. The relationship between Pöllinger and Lutz can probably be described as broken. Such a dispute is always a problem for a healthy company, because the supervisory board is actually supposed to support and advise the board of directors or the management.

Pöllinger was Lutz’s successor as CEO

But as CEO of BayWa, Pöllinger obviously has the support of both the board and the supervisory board. And according to a press release, he assesses the situation differently: “As a result, the supervisory board expressed full confidence in the board of directors and the chairman of the board, Marcus Pöllinger.” The 45-year-old CEO has been in office since April 2023.

Shortly afterwards, the next message followed: The chairman of the supervisory board, Klaus-Josef Lutz, is leaving. Lutz was Pöllinger’s predecessor before he moved from the board of directors to the supervisory board of BayWa last year. It now remains to be clarified where the rumors came from that Pöllinger was guilty of a compliance violation. In any case, the supervisory board apparently did not come to that conclusion.

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BayWa’s share price has slipped in recent months

Klaus-Josef Lutz headed BayWa AG for 15 years and pushed forward internationalization. In the past few months, however, business has not been going so well. In the first nine months of last year, falling energy prices and the slump in residential construction led to a slump in profits for the group.

Some investors have long been doubting the business development of Germany’s largest agricultural trader. The price has been on a downward trend since November 2022. The value slipped from more than 47 euros per share to around 28 euros. According to BayWa, it employs around 24,000 people worldwide. Just last year, the company, headquartered in Munich, celebrated its 100th anniversary.

The supervisory board is supposed to control the board of directors

The board of a company is something like the executive force, the management: The committee with its chairwoman makes strategic decisions, is responsible for the weal and woe of a group and coordinates on finance, controlling, compliance and all other important subject areas .

The supervisory board is – as the name suggests – there to carry out supervision and monitor. Above all, however, the supervisory board determines who sits on the board. Supervisory board members often travel to several companies, keep an overview and keep an eye on the board’s decisions. You can also have a say in salaries and bonuses.

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