So ein saloppe Skizze. Wird zum Baustein eines Weltkonzern: ein Pendelkugellager von Sven Wingqvist gezeichnet (Originalskizze). 

So faszinierend schnöde wie genial. Genau das gleich war in der Villa Hügel (Essen Bredeney)  ausgestellt: schlichte Handzeichnungen von Alfred Krupp zu sein patentierte Eisenbahnradreifen. 

Fast plump auch die Skizzen der Gebrüder Mannesmann zu ihre Walzverfahren zur Herstellung nahtlose Stahlrohren. Alles beginnen ist oft mehr als nur simpel. Erschreckend. 

Entsetzlich und ebenso Erstaunlich: jedem Beginnen wohnt ein Zauber inne. Das hat nicht nur Herrmann Hesse als Dichter treffend in sein “Stufen” ausgedrückt.

Berthold Beitz – Ein unruhiges Leben

Regie Dror Zahavi ∙ Kamera Gero Steffen ∙ Schnitt Fritz Busse  ∙ Szenbild Gabriele Wolff ∙ Casting Mai Seck ∙ Kostümbild Verena Reuter ∙ Ton Josef Pörzchen ∙ Make-up Nadia Homri Mit u.a. Sven-Eric Bechtolf ∙ Edgar Selge ∙ Maya Gorkin ∙ Benjamin-Lew Klon In der Mitte der 1970er Jahre gehört die Firma Krupp zu den größten deutschen Industrieunternehmen. Doch es ist ins Straucheln gekommen und kämpft ums Überleben. Berthold Beitz (Sven-Eric Bechtolf) gehört zu den wenigen Männern, die noch glauben, das Unternehmen retten zu können. Seit über 20 Jahren lenkt er bereits die Geschicke von Krupp. Wenn er eins gelernt hat, dann, dass das wichtigste Kapital der Firma noch immer sein guter Name ist. Kurzerhand entschließt sich Beitz zu einem außergewöhnlichen Schritt: Er beauftragt den Historiker Golo Mann (Edgar Selge) damit, ein Buch über Krupp zu schreiben. Damit begegnen sich gleichzeitig auch zwei Männer, die unterschiedlicher nicht sein könnten. Berthold Beitz hat sich aus einfachen Verhältnissen hochgearbeitet und war schon immer ein Sonnyboy, der gerne anpackt. Golo Mann hingegen ist von Beruf Sohn und Melancholiker. Während der eine mit der Vergangenheit abschließen will, entwickelt der andere zunehmend Interesse an dessen Geschichte: In Polen rettete Beitz im Zweiten Weltkrieg Hunderten Juden das Leben, wie kommt er nun dazu, mit den Tätern von damals zu arbeiten, und Krupp, das einst als "Waffenschmiede der Nation" galt, retten zu wollen? Golo Mann will dem Rätsel auf die Spur kommen. WDR ∙ ARD Degeto ∙ Produktion Zeitsprung Entertainment ∙ Verleih Das Erste

E-TROPOLIS FESTIVAL – Oberhausen, Turbinenhalle (16.03.2019) Zum neunten Mal E-Tropolis, zum sechsten Mal in Oberhausen – und wieder ein großer Erfolg für alle Beteiligten. Rund 4000 Menschen erlebten einen langen, aufregenden Tag mit flirrenden Synths und knalligen Beats. Von 14 Uhr nachmittags bis tief in die Nacht wurde getanzt, geklatscht, gejubelt und laut mitgesungen. Die frühen Stunden des Tages waren geprägt von Acts, die im vergangenen Jahr auf dem Amphi Festival für Furore gesorgt haben. So lag es nahe, ES23, Priest und Rroyce eine weitere Chance zu geben, das Szene-Publikum von den hauseigenen Qualitäten zu überzeugen. Das gelang vorzüglich. Es gab definitiv schon E-Tropolis-Festivals in der Turbinenhalle, bei denen zu Beginn um 14 Uhr weniger los war als bei ES23. Das Bochumer Projekt – das, wie die wenigsten wissen dürften, tatsächlich schon seit 14 Jahren existiert – sorgte mit seinem pumpenden Dark-Electro zwischen hart und zart für die ersten euphorischen Reaktionen des Tages. Es folgte ein Spannung erwarteter Gig. Denn für Priest war es der erste in aktualisierter Besetzung. Alex Högberg und Sänger Tom Asberg verließen die Band nur eine Woche vor dem Festival. so war es am neuen Mann, vorab nur „New Mercury“ genannt, zwei neue und acht alte Songs vorzutragen. Das schwedische 80er-Retro-Electro-Projekt übertrug Teile der Show auf Facebook – die Reaktionen der Fans waren äußerst gemischt. Von „Das ist nicht mehr meine Band“ über „Ganz ok fürs Erste“ bis hin zu „Großartig“ schwankten die Meinungen. Unsere Meinung: Solide Vorstellung, an den Höhen darf der gute Mann aber noch etwas arbeiten. Mal sehen, wie es mit Priest weitergeht. Zunächst erscheint am 29. März die neue EP Obey, deren Titeltrack hier seine Live-Premiere feierte. Setlist Priest 01. Tria Prima 02. The Pit 03. Nightmare Hotel 04. Obey 05. Populist 06. Private Eye 07. History In Black 08. The Cross 09. Neuromancer 10. Vaudeville Über jeden Zweifel erhaben ist derweil die Stimme von Rroyce-Fronter Casi. Die Dortmunder durften die zweite Stage eröffnen und schon einmal ausprobieren, wie es sich anfühlt, dort zu spielen. Denn am 8.November dieses Jahres wird das Trio an Ort und Stelle als Welle:Erdball-Support spielen. Den Publikumsreaktionen zufolge hätte man Rroyce vielleicht doch von vornherein einen längeren Slot geben sollen. Lautstark bejubelt wurde das Synthpop-Projekt, das bald sein drittes Album Patience auf den Markt werfen wird und mit neuen Songs wie der Single Parallel Worlds sowie vielen Stücken der Vorgänger-LP Karoshi durchweg überzeugte. Die auf Facebook einsehbaren Reaktionen von Band und Fans sprachen Bände. Prognose: In zwei oder drei Jahren sind Rroyce wieder beim E-Tropolis – dann mit einem deutlich späteren und längeren Gig. Setlist RROYCE 01. The Principle Of Grace 02. Who Needs 03. Parallel Worlds 04. Full Speed, Half Side 05. Pyroclastic Flow 06. Someone Else’s Life 07. My Dearest Enemy 08. Running With The Sheep 09. I Like It When You Lie 10. Malacoda Der späte Nachmittag-/Frühabendbereich stand – mit Ausnahme des gelungenen Auftritts der Supergroup Future Lied To Us, die sich auch von technischen Problemen nicht aus dem Konzept bringen ließen – klar im Zeichen der Cyber-Community. X-RX (bei bedenklich schlechter Akustik), Synthattack und Centhron setzen auf knallende Beats, gefaucht-gegrowlt-gebrüllte Vocals und mal mehr, mal weniger stumpfe Texte. In den letzten Jahren bekam man auf Goth-Szene-Events zunehmend das Gefühl, das die Zeit der Neonröhren und Plastikschläuche langsam vorbei ist – irgendwie fühlte es sich in der Turbinenhalle ganz anders an. Vor allem, wenn dann auch noch eine Underground-Legende wie Velvet Acid Christ zumindest partiell wenig Anstalten macht, anders zu klingen. Setzte das selten in Deutschland auf der Bühne zu sehende Projekt von Bryan Erickson in der ersten Hälfte seines 45-Minuten-Auftritts noch einige interessante musikalische Kontrapunkte zum restlichen Line-up – so zum Beispiel mit dem Trip-Hoppigen Slut oder dem nach typischem Nordamerika-Electro-Industrial klingenden Opener Fun With Drugs – , verloren sich die letzten vier Songs in deftigem Geballer und Gefauche. Dazu gab es das Gesamtbild ergänzende Klischee-Horror-Videos auf der Leinwand zu sehen. So dürften zumindest einige Zuschauer froh gewesen sein, als Solar Fake die Bühne betraten und somit nach einer gefühlten Ewigkeit mal wieder Melodien im Vordergrund standen. Die Live-Konzerte des aktuell aktivsten Projekt von und mit Sven Friedrich haben seit Ende 2017 deutlich an Dynamik gewonnen. Seitdem verstärkt nämlich Drummer Jeans das Duo, bestehend aus Friedrich und André Feller. So lieferten die drei 60 Minuten lang altgeliebte Hits wie More Than This, Parasites oder Where Are You – das zuletzt gern gespielte und bei den Fans beliebte Editors-Cover Papillon fiel diesmal zugunsten eigener Songs aber aus der Setlist. Nichtsdestotrotz: ein rundum überzeugender Auftritt, den das Publikum entsprechend zu würdigen wusste. Setlist SOLAR FAKE 01. Not What I Wanted 02. Under Control 03. Sick Of You 04. All The Things You Say 05. I Don’t Want You In Here 06. Reset To Default 07. The Pain That Kills You Too 08. Invisible 09. More Than This 10. Parasites 11. Just Like This 12. Where Are You 13. Observer Auf das gemäßigte Hüpfen in den vorderen Reihen folgte 30 Minuten später wilder Pogo. Kein Wunder, schließlich stand die Show von Suicide Commando an. Johan van Roy, vor drei Jahren noch mit einem Vintage-Set an Ort und Stelle vertreten, ließ den alten Kram diesmal beiseite liegen und haute einen Aggrotech-Hit nach dem nächsten raus. Zu u.a. Raise Your God, Bind, Torture, Kill und ganz zum Schluss Die Motherfucker Die gab’s die deftigsten Pits des Tages. Setlist SUICIDE COMMANDO 01. Mindstripper 02. The Pain That You Like 03. Death Lies Waiting 04. Raise Your God 05. Schiz(o)Topia 06. God Is In The Rain 07. Cause Of Death: Suicide 08. The Devil 09. Unterwelt 10. Bind Torture Kill 11. Love Breeds Suicide 12. We Are Transitory 13. Die Motherfucker Die Ärgerlich für viele war da höchstens die Überschneidung mit [:SITD:]. Der nach ES23 und Rroyce dritte aus dem Ruhrpott stammende Act des Tages konnte sich allerdings ebenfalls nicht über zu wenig Bewegung vor der Bühne beklagen – wenngleich natürlich alles etwas gemäßigter ablief als vor der Mainstage. Erstmals zu hören gab es neben vielen Klassikern auch Töne aus dem neuen, am 10. Mai erscheinenden achten Album Stunde X. Und zur Freude aller Beteiligten wurde auch bekanntgegeben, das [:SITD:] am 28. Dezember erneut in Oberhausen spielen – dann ein volles Set im Kulttempel. Setlist SITD 01. Lebensborn 02. Cleatrix 03. Code:Red 04. Dunkelziffer 05. Genesis 06. Olymp 07. Kreuzgang 08. Laughingstock 09. Rot 10. Richtfest 11. Snuff Machinery Auf der Mainstage zog sich die nun folgende Umbaupause ein wenig länger hin als geplant. Am Ende blieb den Krupps immerhin Zeit für ein Dutzend Songs, leider bei überwiegend ziemlich breiigem Sound. Anfangs bekamen die sonst an diesem Tag sträflich vernachlässigten EBM-Fans Grund zum Stampfen – der Dreier aus Germaniac, Schmutzfabrik und Der Amboss kam schon bei der Machinists Of Joy-Tour im vergangenen Sommer mit Front Line Assembly gut an. Überraschungen gab es leider keine, Engler, Dörper & Co. spielten das aus den Vorjahren gewohnte Set mit einer Mischung aus älteren wie neueren Hits. Kraftvoll wie immer, aber: Jungs, langsam wäre es Zeit für was Neues – oder den einen oder andere lange nicht gespielten Klassiker! Setlist DIE KRUPPS 01. Hi Tech Low Life 02. The Dawning Of Doom 03. Germaniac 04. Schmutzfabrik 05. Der Amboss 06. Fly Martyrs Fly 07. To The Hilt 08. Metal Machine Music 09. Robo Sapien 10. Nazis auf Speed 11. The Machineries Of Joy 12. Bloodsuckers Parallel dazu machte Welle:Erdball-Sänger Honey auf der Bühne von Halle 2 eine recht schockierende Zwischenansage. Kurz formuliert: Die Band stand ganz dicht vor dem Aus. Lady Lila stieg aus, Fräulein Venus wurde Mutter, Alf begleitete seinen Vater in den letzten Wochen und Monaten vor dessen Tod und ist leider immer noch nicht wieder mit dabei – so war der stets sonnenbebrillte Frontmann gezwungen, eine komplett neue Besetzung zusammenzustellen. Keyboarder C0zmo sorgt nun für die richtigen Tastentöne und die weiblichen Stimmen kommen von Miss Moonlight und Emma Peel. Die beiden Damen sollten in Hinblick auf die große Mumien, Monstren, Mutationen-Tour im Herbst allerdings noch ein wenig üben. In Teilen klang der Gesang doch noch recht unmelodisch und weit weniger überzeugend als bei den Vorgängerinnen. So wollte zu Beginn nach eher mediokren Versionen von Stücken wie 20000 Meilen unter dem Meer oder Die Liebe der 3. Art noch nicht so recht Jubel aufkommen. Das änderte sich jedoch nach zahlreichen Honey-Solo-Tracks wie FanFanFanatisch, Ich bin nicht von dieser Welt oder dem ewigen Schweben, Fliegen, Fallen – insgesamt konnten die Zuhörer mit der Übertragung ihres Senders doch zufrieden sein. Motto des E-Tropolis 2019: Das Beste kommt zum Schluss. Was Apoptygma Berzerk in ihren 90 Minuten ablieferten, war von vorne bis hinten einfach nur große Klasse. In der Euphorie rund um die neue Veröffentlichung SDGXXV – eine Remix-Platte des Debütalbums Soli Deo Gloria – packte Stephan Groth satte fünf Songs seines Erstlingswerks in die Setlist. Wann es das das letzte Mal gegeben hat? Vermutlich noch im alten Jahrtausend. Drumherum ein Hit-Sammelsurium, das wenig bis keine Wünsche offen ließ, guter Sound mit wuchtigen Drums, ein lautstarkes wie textsicheres Publikum und ein Jonas Groth, der bei Nearer und dem Non Stop Violence-Outro wieder einmal bewies, dass er der beste Sänger in der Band ist. Als Krönung bat Stephan Groth zum abschließenden Backdraft noch Überraschungsgast und Szene-Urgestein Thomas Lüdke von The Invincible Spirit auf die Bühne. Sinngemäß, hatte Lüdke das Stück für SGDXXV doch überarbeitet. Setlist APOPTYGMA BERZERK 01. The Sentinel 02. Love Never Dies 03. Burnin‘ Heretic 04. Deep Red 05. Non-Stop Violence 06. Nearer 07. Bitch 08. Something I Should Know 09. Shadow 10. Starsign 11. Mourn (Mesh Remix) 12. Eclipse (Ok Minus Remix) 13. Unicorn 14. Stitch 15. Kathy’s Song 16. You Keep Me From Breaking Apart 17. In This Together 18. Until The End Of The World 19. Backdraft (mit The Invincible Spirit) Dann war aber wirklich Schluss – es sei denn, man hatte nach elf Stunden Live-Musik immer noch nicht genug und tanzte auf der Aftershow-Party fleißig bis in die frühen Morgenstunden. Organisatorisch betrachtet lief beim E-Tropolis 2019 fast alles wie am Schnürchen – lediglich das Plastikbecher-Massaker auf dem Boden und die teils sehr langen Schlangen an so manchem Essens-Stand hätten nicht sein müssen. Ein, zwei „Fressbuden“ mehr und ein Pfandsystem würden wohl eine Win-Win-Situationen für alle Seiten herbeiführen. Aber irgendwo muss im Rahmen des Möglichen ja schließlich immer noch ein wenig Verbesserungspotenzial bleiben, nicht wahr? Jedenfalls dürften auch am 14. März 2020 wieder rund 4000 Personen in der Turbinenhalle vorbeischauen. Für die dann stattfindende zehnte Ausgabe des Festivals wurden bereits jetzt Covenant, Diorama, Solitary Experiments, Winterkälte, Grendel, Torul, Eisfabrik und Ruined Conflict bestätigt. Mal sehen, was da noch kommt … Fotos: Dietmar Grabs/Cynthia Theisinger © monkeypress.de - sharing is caring! Autor/Fotograf: Patrick Friedland Den kompletten Beitrag findet Ihr hier: E-TROPOLIS FESTIVAL – Oberhausen, Turbinenhalle (16.03.2019) http://monkeypress.de/2019/03/live/festivalberichte/e-tropolis-festival-oberhausen-turbinenhalle-16-03-2019/ https://www.facebook.com/monkeypress.de/photos/a.2159351380753921/2266028900086168/?type=3

Here’s How One Grocery Store In Germany Proved A Powerful Point About Bigotry

With our nation more divided than ever in regards to issues of racism, xenophobia, and everything in between, it's important to note that diversity is never, ever the enemy.

And while America may be struggling to find a common ground on these issues, it’s important (and honestly, kind of depressing) to know that we’re not alone. In recent years, Germany has had to deal with its fair share of issues following a 2015 decision to allow more than a million asylum seekers entry into the country. At the heart of the problem is the idea that these immigrants have "failed to assimilate." Worse still is that many wrongly associate refugees and migrants seeking asylum with terrorism.

And one German grocery store has made their stance on diversity known. What they did is important and something we all need to see.

Regular customers at the Edeka supermarket in Hamburg were caught off guard when they walked inside to find a majority of the shelves and display cases mostly empty.

Screenshot: Instagram / heinzinger

Upon closer inspection customers began to notice that all non-German products were removed from the store shelves.

Twitter / Holger Krupp

Replacing the items were signs containing anti-xenophobic messages.

Twitter / Sven

One sign read, This shelf is pretty boring without diversity, while another added, This is howempty a shelf is without foreigners.

Screenshot: Instagram / heinzinger

The goal of the pro-diversity campaign was to help German residents realize just how much they depend on the people from around the world.

Twitter / Sven

You might not think about it when youre browsing the store aisles, but most of the food you place in your shopping cart has been shipped to your store from all around the globe.

Screenshot: Instagram / heinzinger

The campaign was met with mixed reviews. Some people were quick to applaud the company for taking a risk in order to prove a point about an important issue.

Twitter / Sven

Others, however, felt that the supermarket had no right to mix their business affairs with politics, especially considering the closeness of next months election.

Twitter / Niko Georgarakos

More From this publisher : HERE

=> *********************************************** Article Source Here: Here’s How One Grocery Store In Germany Proved A Powerful Point About Bigotry ************************************ =>

Here’s How One Grocery Store In Germany Proved A Powerful Point About Bigotry was originally posted by 11 VA Viral News

Thyssenkrupp board to seek new CEO after Hiesinger quits

DUESSELDORF/FRANKFURT (Reuters) – Thyssenkrupp (TKAG.DE) will take its time to replace Chief Executive Heinrich Hiesinger after his resignation, dampening hopes of a speedy restructuring or even a break-up of the German industrial group.

Hiesinger’s resignation came less than a week after he sealed a landmark joint venture deal with India’s Tata Steel (TISC.NS), the culmination of two years of negotiations that in the end came too late to placate investors hungry for change.

Activist shareholders Cevian and Elliott had criticized Thyssenkrupp’s performance under Hiesinger, with shares down 28 percent since he took office in January 2011. There have been calls to break up the company that spans submarines, elevators and car parts.

The board did not appoint an interim CEO but said it had asked the remaining executives — Guido Kerkhoff, Oliver Burkhard and Donatus Kaufmann — to lead the company for now.

“In this difficult situation it is most important now for the company to remain on course,” the supervisory board’s Chairman Ulrich Lehner said in a statement.

The chief executive had been set to present a revamped strategy for the group, which was forged by the merger of two German steel groups founded in the 19th century. Such a presentation now looks likely to be delayed.

“The succession to Dr. Heinrich Hiesinger as Chief Executive will follow in a structured process,” Thyssenkrupp said, without providing details on possible candidates or a timeline.

Thyssenkrupp’s stock jumped as much as 6.6 percent to the top of the pan-European STOXX Europe 600 index on Friday before giving up some of its gains to trade 1.7 percent higher by 1415 GMT.

STRATEGY HOPES

Hiesinger, 58, was brought in to turn around Thyssenkrupp seven years ago after it lost billions of euros in an ill-fated venture in the Americas that forced his predecessor Ekkehard Schulz to step down.

The former Siemens (SIEGn.DE) executive vowed to fix the “disaster” at the group, axing half his management board amid losses and corruption allegations.

He presided over Thyssenkrupp’s protracted exit from its volatile steel business, whose roots go back more than 200 years and provided the company’s backbone for many generations.

But his shareholder backing dwindled during his quest to simplify the group’s structure while still keeping it intact.

“We welcome the CEO’s resignation as this could be a sign of a change of strategy, a move toward the split of the company’s assets and the end of the conglomerate discount,” said Frederic Guignard, European Equities Fund Manager at Aviva Investors, a top-30 investor in Thyssenkrupp.

Breaking up conglomerates is tougher in Germany than, for example, in the United States, mainly because of the power of labor unions on German company boards.

FILE PHOTO: ThyssenKrupp CEO Heinrich Hiesinger addresses the company’s annual shareholders meeting in Bochum, Germany, January 19, 2018. REUTERS/Thilo Schmuelgen/File Photo

“Now there is an opportunity to develop a new strategy, to advance restructuring and to reposition the group,” said Ingo Speich, fund manager at Union Investment, which holds about $28.5 million worth of Thyssenkrupp stock.

“A successor should therefore add a new perspective rather than hold on to the existing strategy,” he added.

The resignation was the fourth by a German blue-chip company’s CEO in as many months, after the chiefs of Deutsche Bank (DBKGn.DE), Volkswagen (VOWG_p.DE) and Beiersdorf (BEIG.DE).

SUPPORT WANES

Hiesinger “was apparently sick of letting himself be worn down by divergent interests at Thyssenkrupp,” Independent Research analyst Sven Diermeier said.

Hiesinger himself said in a letter to staff that a “joint understanding of board and supervisory board on the strategic direction of a company is a key pre-requisite for successfully leading a company”.

The Krupp family foundation is Thyssenkrupp’s biggest shareholder, without around 21 percent of shares, followed by Cevian with around 18 percent. Elliott has under 3 percent, according to its latest filing.

A person familiar with the matter told Reuters that Cevian partner Jens Tischendorf and former Deutsche Telekom (DTEGn.DE) Chief Executive Rene Obermann voted against the deal with Tata, while HSBC Germany chief Carola von Schmettow abstained at last week’s board meeting.

Some key shareholders said the terms of the Tata deal were not favorable enough and that Hiesinger could have sought a better deal.

It was unclear to what extent the traditionally tight-lipped Krupp foundation supported the venture, but it said on Friday that it regretted Hiesinger’s decision to leave and that it had always welcomed his proposals and supported his decisions.

Additional reporting by Christoph Steitz and Simon Jessop; Writing by Maria Sheahan; Editing by David Evans/Keith Weir/Georgina Prodhan

The post Thyssenkrupp board to seek new CEO after Hiesinger quits appeared first on World The News.

from World The News https://ift.tt/2NuD5el via Breaking News

Thyssenkrupp board to seek new CEO after Hiesinger quits

DUESSELDORF/FRANKFURT (Reuters) – Thyssenkrupp (TKAG.DE) will take its time to replace Chief Executive Heinrich Hiesinger after his resignation, dampening hopes of a speedy restructuring or even a break-up of the German industrial group.

Hiesinger’s resignation came less than a week after he sealed a landmark joint venture deal with India’s Tata Steel (TISC.NS), the culmination of two years of negotiations that in the end came too late to placate investors hungry for change.

Activist shareholders Cevian and Elliott had criticized Thyssenkrupp’s performance under Hiesinger, with shares down 28 percent since he took office in January 2011. There have been calls to break up the company that spans submarines, elevators and car parts.

The board did not appoint an interim CEO but said it had asked the remaining executives — Guido Kerkhoff, Oliver Burkhard and Donatus Kaufmann — to lead the company for now.

“In this difficult situation it is most important now for the company to remain on course,” the supervisory board’s Chairman Ulrich Lehner said in a statement.

The chief executive had been set to present a revamped strategy for the group, which was forged by the merger of two German steel groups founded in the 19th century. Such a presentation now looks likely to be delayed.

“The succession to Dr. Heinrich Hiesinger as Chief Executive will follow in a structured process,” Thyssenkrupp said, without providing details on possible candidates or a timeline.

Thyssenkrupp’s stock jumped as much as 6.6 percent to the top of the pan-European STOXX Europe 600 index on Friday before giving up some of its gains to trade 1.7 percent higher by 1415 GMT.

STRATEGY HOPES

Hiesinger, 58, was brought in to turn around Thyssenkrupp seven years ago after it lost billions of euros in an ill-fated venture in the Americas that forced his predecessor Ekkehard Schulz to step down.

The former Siemens (SIEGn.DE) executive vowed to fix the “disaster” at the group, axing half his management board amid losses and corruption allegations.

He presided over Thyssenkrupp’s protracted exit from its volatile steel business, whose roots go back more than 200 years and provided the company’s backbone for many generations.

But his shareholder backing dwindled during his quest to simplify the group’s structure while still keeping it intact.

“We welcome the CEO’s resignation as this could be a sign of a change of strategy, a move toward the split of the company’s assets and the end of the conglomerate discount,” said Frederic Guignard, European Equities Fund Manager at Aviva Investors, a top-30 investor in Thyssenkrupp.

Breaking up conglomerates is tougher in Germany than, for example, in the United States, mainly because of the power of labor unions on German company boards.

FILE PHOTO: ThyssenKrupp CEO Heinrich Hiesinger addresses the company’s annual shareholders meeting in Bochum, Germany, January 19, 2018. REUTERS/Thilo Schmuelgen/File Photo

“Now there is an opportunity to develop a new strategy, to advance restructuring and to reposition the group,” said Ingo Speich, fund manager at Union Investment, which holds about $28.5 million worth of Thyssenkrupp stock.

“A successor should therefore add a new perspective rather than hold on to the existing strategy,” he added.

The resignation was the fourth by a German blue-chip company’s CEO in as many months, after the chiefs of Deutsche Bank (DBKGn.DE), Volkswagen (VOWG_p.DE) and Beiersdorf (BEIG.DE).

SUPPORT WANES

Hiesinger “was apparently sick of letting himself be worn down by divergent interests at Thyssenkrupp,” Independent Research analyst Sven Diermeier said.

Hiesinger himself said in a letter to staff that a “joint understanding of board and supervisory board on the strategic direction of a company is a key pre-requisite for successfully leading a company”.

The Krupp family foundation is Thyssenkrupp’s biggest shareholder, without around 21 percent of shares, followed by Cevian with around 18 percent. Elliott has under 3 percent, according to its latest filing.

A person familiar with the matter told Reuters that Cevian partner Jens Tischendorf and former Deutsche Telekom (DTEGn.DE) Chief Executive Rene Obermann voted against the deal with Tata, while HSBC Germany chief Carola von Schmettow abstained at last week’s board meeting.

Some key shareholders said the terms of the Tata deal were not favorable enough and that Hiesinger could have sought a better deal.

It was unclear to what extent the traditionally tight-lipped Krupp foundation supported the venture, but it said on Friday that it regretted Hiesinger’s decision to leave and that it had always welcomed his proposals and supported his decisions.

Additional reporting by Christoph Steitz and Simon Jessop; Writing by Maria Sheahan; Editing by David Evans/Keith Weir/Georgina Prodhan

The post Thyssenkrupp board to seek new CEO after Hiesinger quits appeared first on World The News.

from World The News https://ift.tt/2NuD5el via Today News

Thyssenkrupp board to seek new CEO after Hiesinger quits

DUESSELDORF/FRANKFURT (Reuters) – Thyssenkrupp (TKAG.DE) will take its time to replace Chief Executive Heinrich Hiesinger after his resignation, dampening hopes of a speedy restructuring or even a break-up of the German industrial group.

Hiesinger’s resignation came less than a week after he sealed a landmark joint venture deal with India’s Tata Steel (TISC.NS), the culmination of two years of negotiations that in the end came too late to placate investors hungry for change.

Activist shareholders Cevian and Elliott had criticized Thyssenkrupp’s performance under Hiesinger, with shares down 28 percent since he took office in January 2011. There have been calls to break up the company that spans submarines, elevators and car parts.

The board did not appoint an interim CEO but said it had asked the remaining executives — Guido Kerkhoff, Oliver Burkhard and Donatus Kaufmann — to lead the company for now.

“In this difficult situation it is most important now for the company to remain on course,” the supervisory board’s Chairman Ulrich Lehner said in a statement.

The chief executive had been set to present a revamped strategy for the group, which was forged by the merger of two German steel groups founded in the 19th century. Such a presentation now looks likely to be delayed.

“The succession to Dr. Heinrich Hiesinger as Chief Executive will follow in a structured process,” Thyssenkrupp said, without providing details on possible candidates or a timeline.

Thyssenkrupp’s stock jumped as much as 6.6 percent to the top of the pan-European STOXX Europe 600 index on Friday before giving up some of its gains to trade 1.7 percent higher by 1415 GMT.

STRATEGY HOPES

Hiesinger, 58, was brought in to turn around Thyssenkrupp seven years ago after it lost billions of euros in an ill-fated venture in the Americas that forced his predecessor Ekkehard Schulz to step down.

The former Siemens (SIEGn.DE) executive vowed to fix the “disaster” at the group, axing half his management board amid losses and corruption allegations.

He presided over Thyssenkrupp’s protracted exit from its volatile steel business, whose roots go back more than 200 years and provided the company’s backbone for many generations.

But his shareholder backing dwindled during his quest to simplify the group’s structure while still keeping it intact.

“We welcome the CEO’s resignation as this could be a sign of a change of strategy, a move toward the split of the company’s assets and the end of the conglomerate discount,” said Frederic Guignard, European Equities Fund Manager at Aviva Investors, a top-30 investor in Thyssenkrupp.

Breaking up conglomerates is tougher in Germany than, for example, in the United States, mainly because of the power of labor unions on German company boards.

FILE PHOTO: ThyssenKrupp CEO Heinrich Hiesinger addresses the company’s annual shareholders meeting in Bochum, Germany, January 19, 2018. REUTERS/Thilo Schmuelgen/File Photo

“Now there is an opportunity to develop a new strategy, to advance restructuring and to reposition the group,” said Ingo Speich, fund manager at Union Investment, which holds about $28.5 million worth of Thyssenkrupp stock.

“A successor should therefore add a new perspective rather than hold on to the existing strategy,” he added.

The resignation was the fourth by a German blue-chip company’s CEO in as many months, after the chiefs of Deutsche Bank (DBKGn.DE), Volkswagen (VOWG_p.DE) and Beiersdorf (BEIG.DE).

SUPPORT WANES

Hiesinger “was apparently sick of letting himself be worn down by divergent interests at Thyssenkrupp,” Independent Research analyst Sven Diermeier said.

Hiesinger himself said in a letter to staff that a “joint understanding of board and supervisory board on the strategic direction of a company is a key pre-requisite for successfully leading a company”.

The Krupp family foundation is Thyssenkrupp’s biggest shareholder, without around 21 percent of shares, followed by Cevian with around 18 percent. Elliott has under 3 percent, according to its latest filing.

A person familiar with the matter told Reuters that Cevian partner Jens Tischendorf and former Deutsche Telekom (DTEGn.DE) Chief Executive Rene Obermann voted against the deal with Tata, while HSBC Germany chief Carola von Schmettow abstained at last week’s board meeting.

Some key shareholders said the terms of the Tata deal were not favorable enough and that Hiesinger could have sought a better deal.

It was unclear to what extent the traditionally tight-lipped Krupp foundation supported the venture, but it said on Friday that it regretted Hiesinger’s decision to leave and that it had always welcomed his proposals and supported his decisions.

Additional reporting by Christoph Steitz and Simon Jessop; Writing by Maria Sheahan; Editing by David Evans/Keith Weir/Georgina Prodhan

The post Thyssenkrupp board to seek new CEO after Hiesinger quits appeared first on World The News.

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Thyssenkrupp board to seek new CEO after Hiesinger quits

DUESSELDORF/FRANKFURT (Reuters) – Thyssenkrupp (TKAG.DE) will take its time to replace Chief Executive Heinrich Hiesinger after his resignation, dampening hopes of a speedy restructuring or even a break-up of the German industrial group.

Hiesinger’s resignation came less than a week after he sealed a landmark joint venture deal with India’s Tata Steel (TISC.NS), the culmination of two years of negotiations that in the end came too late to placate investors hungry for change.

Activist shareholders Cevian and Elliott had criticized Thyssenkrupp’s performance under Hiesinger, with shares down 28 percent since he took office in January 2011. There have been calls to break up the company that spans submarines, elevators and car parts.

The board did not appoint an interim CEO but said it had asked the remaining executives — Guido Kerkhoff, Oliver Burkhard and Donatus Kaufmann — to lead the company for now.

“In this difficult situation it is most important now for the company to remain on course,” the supervisory board’s Chairman Ulrich Lehner said in a statement.

The chief executive had been set to present a revamped strategy for the group, which was forged by the merger of two German steel groups founded in the 19th century. Such a presentation now looks likely to be delayed.

“The succession to Dr. Heinrich Hiesinger as Chief Executive will follow in a structured process,” Thyssenkrupp said, without providing details on possible candidates or a timeline.

Thyssenkrupp’s stock jumped as much as 6.6 percent to the top of the pan-European STOXX Europe 600 index on Friday before giving up some of its gains to trade 1.7 percent higher by 1415 GMT.

STRATEGY HOPES

Hiesinger, 58, was brought in to turn around Thyssenkrupp seven years ago after it lost billions of euros in an ill-fated venture in the Americas that forced his predecessor Ekkehard Schulz to step down.

The former Siemens (SIEGn.DE) executive vowed to fix the “disaster” at the group, axing half his management board amid losses and corruption allegations.

He presided over Thyssenkrupp’s protracted exit from its volatile steel business, whose roots go back more than 200 years and provided the company’s backbone for many generations.

But his shareholder backing dwindled during his quest to simplify the group’s structure while still keeping it intact.

“We welcome the CEO’s resignation as this could be a sign of a change of strategy, a move toward the split of the company’s assets and the end of the conglomerate discount,” said Frederic Guignard, European Equities Fund Manager at Aviva Investors, a top-30 investor in Thyssenkrupp.

Breaking up conglomerates is tougher in Germany than, for example, in the United States, mainly because of the power of labor unions on German company boards.

FILE PHOTO: ThyssenKrupp CEO Heinrich Hiesinger addresses the company’s annual shareholders meeting in Bochum, Germany, January 19, 2018. REUTERS/Thilo Schmuelgen/File Photo

“Now there is an opportunity to develop a new strategy, to advance restructuring and to reposition the group,” said Ingo Speich, fund manager at Union Investment, which holds about $28.5 million worth of Thyssenkrupp stock.

“A successor should therefore add a new perspective rather than hold on to the existing strategy,” he added.

The resignation was the fourth by a German blue-chip company’s CEO in as many months, after the chiefs of Deutsche Bank (DBKGn.DE), Volkswagen (VOWG_p.DE) and Beiersdorf (BEIG.DE).

SUPPORT WANES

Hiesinger “was apparently sick of letting himself be worn down by divergent interests at Thyssenkrupp,” Independent Research analyst Sven Diermeier said.

Hiesinger himself said in a letter to staff that a “joint understanding of board and supervisory board on the strategic direction of a company is a key pre-requisite for successfully leading a company”.

The Krupp family foundation is Thyssenkrupp’s biggest shareholder, without around 21 percent of shares, followed by Cevian with around 18 percent. Elliott has under 3 percent, according to its latest filing.

A person familiar with the matter told Reuters that Cevian partner Jens Tischendorf and former Deutsche Telekom (DTEGn.DE) Chief Executive Rene Obermann voted against the deal with Tata, while HSBC Germany chief Carola von Schmettow abstained at last week’s board meeting.

Some key shareholders said the terms of the Tata deal were not favorable enough and that Hiesinger could have sought a better deal.

It was unclear to what extent the traditionally tight-lipped Krupp foundation supported the venture, but it said on Friday that it regretted Hiesinger’s decision to leave and that it had always welcomed his proposals and supported his decisions.

Additional reporting by Christoph Steitz and Simon Jessop; Writing by Maria Sheahan; Editing by David Evans/Keith Weir/Georgina Prodhan

The post Thyssenkrupp board to seek new CEO after Hiesinger quits appeared first on World The News.

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Here's How One Grocery Store In Germany Proved A Powerful Point About Bigotry

With our nation more divided than ever in regards to issues of racism, xenophobia, and everything in between, it’s important to note that diversity is never, ever the enemy.

And while America may be struggling to find a common ground on these issues, it’s important (and honestly, kind of depressing) to know that we’re not alone. In recent years, Germany has had to deal with its fair share of issues following a 2015 decision to allow more than a million asylum seekers entry into the country. At the heart of the problem is the idea that these immigrants have “failed to assimilate.” Worse still is that many wrongly associate refugees and migrants seeking asylum with terrorism.

And one German grocery store has made their stance on diversity known. What they did is important and something we all need to see.

Regular customers at the Edeka supermarket in Hamburg were caught off guard when they walked inside to find a majority of the shelves and display cases mostly empty.

Screenshot: Instagram / heinzinger

Upon closer inspection customers began to notice that all non-German products were removed from the store shelves.

Twitter / Holger Krupp

Replacing the items were signs containing anti-xenophobic messages.

Twitter / Sven

Here’s How One Grocery Store In Germany Proved A Powerful Point About Bigotry was originally published on Buzzing Lives