Two years after a Chinese Takeover, the head of the robot manufacturer Till Reuter has to leave the company Kuka. And he will not go voluntarily.
He had supported two years ago, the Acquisition of robot-maker Kuka to investors from China. But now, the longtime group chief Executive Till Reuter leaves surprisingly, the company – four years before the end of his contract. Reuter will retire from his position as Chairman of the Board in December, informed Kuka and the company’s headquarters in Augsburg.
Reuter has reacted with Regret at his departure: “I don’t like to go, I’m sad, but it’s more,” he told the “Augsburger Allgemeine” of Tuesday.
Federal Economics Minister Sigmar Gabriel sees himself with the detachment of his former objections to the Acquisition by Chinese investors are confirmed. Reuter had been “for many, as a guarantee of location security, and a reasonable entrepreneurial independence,” said the SPD politician of the newspaper.
Information about the reasons for the decision the company made. From business circles was reported that the Chinese wanted more day-to-day business. The relationship between Reuter and the investors have worsened recently, it said.
Head exchange after a Takeover by Chinese
The departure of Reuters, is the second case of a spectacular boss change after the Acquisition by a Chinese Investor. So was first used in September, the entire Board of Directors of the Bavarian automotive supplier Grammer before the Takeover by the Chinese company Ningbo Jifeng an exit clause. The chief Executive officer, Hartmut Müller and chief financial officer, Gérard Cordonnier want to lay down at the end of the year their Offices, the Board of management Manfred Pretscher in February 2019.
Of Augsburg in the whole world: Kuka industrial robots are in demand internationally.
Reuter was since 2009 chief Kuka and led the then-economically struggling company out of the crisis. In the spring of 2017 Chairman of the Supervisory Board Gu had extended the contract of Reuter prematurely for a further two years before Reuter was ordered up to the year 2020 as the Chairman of the Board.
Previously, the Chinese house had manufacturer Midea device Kuka shareholders a lucrative takeover offer of 115 euros per share, and after a long struggle, around 95 per cent of the shares of the augsburgers. Reuter was a strong supporter of the entry of the Chinese. He praised the fact that Midea had a far-reaching investment agreement and, therefore, by 2023, for example, the employees with a guarantee of a job. “It is important for us that Kuka remains independent,” said Reuter at the time.
CFO takes over on an interim basis
For continuity to ensure that CFO Peter Mohnen. He will be the Chairman of the Board, on a transitional basis from the 6. December take, reported the group. At the same time, Manager Andreas Pabst in the two-headed Kuka Board of management should take over provisionally the financial Department.
Kuka is one of the technologically leading manufacturer of robots for the industry, especially for automotive manufacturers. The Acquisition by the Chinese had hit the headlines, as Chinese companies increasingly invest in German high-tech companies. Politicians in Brussels and Berlin had spoken out against the fact that advanced technologies falling into Chinese hands.
Chinese want to extend control
From business circles was reported that the Chinese wanted to push the Integration and control on the operations of Kuka expand. The owners wanted to enforce their ideas and stronger leadership.
Finally, the Augsburg-based company with 13.710 employees had been reduced after a long growth phase of its full-year forecast due to the gloomy Outlook. Added to a poorer development in the business with cars to uncertainties in the Chinese automation market, Kuka, presentation of the quarterly figures notified to the end of October.
For 2018 a turnover of around 3.3 billion euros is expected instead of the previously targeted revenues of more than EUR 3.5 billion. The chief Executive officer Reuter had announced, “to respond to the tougher economic conditions” and to place a “stronger focus” on the efficiency of the program. In 2015 he was presented for the first time, a Five-year forecast and explained that the sales should be doubled in the case of Kuka, up to the year 2020 on 4 to 4.5 billion euros approximately.
ul/hb/pcb (dpa/afp)