Juergen M. Geissinger
Jürgen M. Geissinger | |
---|---|
Sandvik AB[4] |
Jürgen M. Geissinger (born July 24, 1959) is a German technology business executive and
Labor unions have labeled Geissinger a tough negotiator for saving costs.
Career
After a brief engagement at
Schaeffler AG
In 1998, Geissinger was tapped by
LuK acquisition
In 2000 Geissinger oversaw his first merger with the acquisition[13] of the remaining 50% of the clutch manufacturer LuK, the company founded by Georg Schaeffler and his brother Wilhelm Schaeffler.[18]
FAG Kugelfischer AG acquisition
In 2001 Geissinger successfully launched a hostile bid and eventually took control[19] of the publicly listed FAG Kugelfischer AG. FAG was subsequently delisted and integrated into Schaeffler KG.[20] It was the first hostile takeover of a public listed MDAX company by a privately held company[21] and was eventually cleared by the FTC following a review of anticompetitive effects.[22] Under Geißinger’s watch, INA together with FAG became the second largest manufacturer of precision rolling bearings in the world.[23]
Continental AG acquisition
Ten years after he left the company, Geissinger would return to Continental to acquire it for Schaeffler.[24]
In 2008 Geissinger and
Geissinger and Maria-Elisabeth Schaeffler saw the opportunity before them and convinced a consortium of banks to join them in their effort to acquire a dominant stake in the publicly listed Continental.[30] By August 2008, following months of fighting off Schaeffler’s advances,[31] Continental agreed to be taken over[32] by the family-owned auto parts manufacturer Schaeffler AG and a consortium of banks in a deal valuing the company at €12 billion. When Continental agreed to end the standoff and allow its smaller rival Schaeffler to buy up to half of the company, it paved the way for Geissinger to build the third-largest automotive supplier in the world (after Bosch and Denso Group). Schaeffler pledged to restrict its stake in the company to less than 50% for at least four years,[33] so as to reduce concerns about immediate turnover of controlling interest to such a smaller buyer.
Global markets
The
While Schaeffler set up operations in
On 10 June 2013, Geissinger presided over a groundbreaking ceremony in Ulyanovsk for Schaeffler's first production facility in Russia.[36] The new plant went online in 2014 and produces automotive and industrial components.[37]
External links
References
- ^ a b c d e "Koepfe der Wirtschaft". Wirtschaftswoche (German newspaper). Verlagsgruppe Handelsblatt GmbH & Co. Archived from the original on 2 September 2012. Retrieved 7 January 2013.
- ^ "Continental AG Supervisory Board / Committees". Continental AG Official website. Retrieved 7 January 2013.
- ^ "MTU Aero Engines Supervisory Board". MTU Aero Engines GmbH Official website. Retrieved 7 January 2013.
- Sandvik AB Official website. Archived from the originalon 8 March 2013. Retrieved 7 January 2013.
- ^ "Germany's Senvion appoints former Schaeffler head as new CEO". SeeNews Renewables. Retrieved 18 December 2015.[permanent dead link]
- Pearson PLC. Retrieved 4 July 2013.
- ^ Schaeffler Technologies. "Schaeffler business maintains high-level performance". Schaeffler.com. SCHAEFFLER AG, HERZOGENAURACH. Archived from the original on 11 January 2013. Retrieved 29 December 2012.
- ^ "Continental Corporation -Shareholder Breakdown, Notification of Voting Rights". Continental AG. Retrieved 6 January 2013.
- ^ Staff writers (15 July 2008). "Schaeffler-Chef gilt als knallharter Kostensparer". Handelsblatt. Retrieved 29 December 2012.
- ^ Melanie Bergermann; Angela Maier; Steffen Klusmann; Kristina Spiller (10 September 2009). "Das Comeback-Kid". Capital (German magazine). Gruner + Jahr. Retrieved 29 December 2012.[permanent dead link]
- ^ Staff writers (21 August 2008). "Continental-Schaeffler deal ends takeover standoff". The New York Times. The New York Times Company. Retrieved 29 December 2012.
- ^ Schaeffler Group USA. "Executive Board: Dr. Jürgen M. Geissinger". Schaeffler.us. Retrieved 29 December 2012.[permanent dead link]
- ^ a b "Company Overview of Schaeffler Technologies AG & Co. KG". Bloomberg Businessweek. Bloomberg L.P. Archived from the original on February 15, 2013. Retrieved 13 January 2013.
- ^ Jann Bettinga; Sheenagh Matthews (28 January 2009). "Billionaire Schaeffler Shunned School to Lead Company". Bloomberg L.P. Retrieved 3 January 2013.
- ^ Weishaupt, Georg (17 July 2008). "Maria-Elisabeth Schaeffler: Die geheimnisvolle Matriarchin". Handelsblatt German newspaper. Retrieved 9 February 2013.
- ^ Staff writers (28 July 1998). "Continental A.G. in $1.93 Billion Deal". The New York Times. The New York Times Company. Retrieved 3 January 2013.
- ^ Maier, Angela (29 January 2012). "Das Dream-Team von Schaeffler". Financial Times Deutschland. Gruner + Jahr. Retrieved 9 February 2013.
- ^ Dehn, Oliver (February 2002). "Mit FAG Kugelfischer weltweit unter den Top 3 der Wälzlagerbranche". IHK-Magazin WiM. Nuremberg Chamber of Commerce and Industry. Retrieved 13 January 2013.
- Axel Springer AG. Retrieved 13 January 2013.
- ^ "Übernahme von FAG Kugelfischer geglückt". Frankfurter Allgemeine Zeitung (German Daily). Frankfurter Allgemeine Zeitung GmbH. 22 October 2001. Retrieved 13 January 2013.
- ^ Hauch-Fleck, Marie-Luise (22 October 2001). "Wie der Feind zum Freund wurde". Die Zeit (German weekly newspaper). Zeit-Verlag Gerd Bucerius GmbH & Co. KG. Retrieved 13 January 2013.
- ^ "Analysis of Agreement Containing Consent Orders To Aid Public Comment". Federal Trade Commission. 2001. Archived from the original on January 6, 2002. Retrieved 13 January 2013.
- ^ "Unternehmensgeschichte (company history)url=http://www.fag.de/content.fag.de/de/company/history/from_1986_to_2005/from_1986_to_2005.jsp". FAG Official website.
{{cite web}}
: Missing or empty|url=
(help) - Pearson PLC. Retrieved 13 January 2013.
- ^ Schaeffler engineers rare mood of hostility, by Daniel Schäfer, 14 July 2008, Financial Times
- ^ Continental AG buys ITT's brake unit, 28 July 1998, Reuters News Service
- ^ Continental sets about integrating Siemens VDO, by Carter Dougherty, 28 August 2007, The New York Times
- ^ Continental to Buy Siemens VDO Unit for $15.7 Billion, by Simon Thiel and Jeremy van Loon, 25 July 2007, Bloomberg News
- ^ Hunter Continental AG now becomes the hunted, by Christoph Hammerschmidt, 14 July 2008, EE Times
- Pearson PLC. Retrieved 14 January 2013.
- ^ The German tire maker Continental rebuffs a bid from a smaller German company, by David Jolly, 16 July 2008, The New York Times
- ^ Continental-Schaeffler deal ends takeover standoff, 21 August 2008, The New York Times
- ^ Mason, Rowena (21 August 2008). "Schaeffler family buys out tyre giant Continental for €12bn". The Daily Telegraph. London: telegraph.co.uk. Retrieved 2008-08-25.
- ^ Schaller, Steffi (May 27, 2011). "Hier probiert Minister Gang das neue E-Auto aus Franken". Abendzeitung (Munich). Retrieved June 26, 2020.
- ^ "Chinese Minister of Science and Technology visits Schaeffler". SCHAEFFLER GMBH Press Office. 27 May 2011. Archived from the original on 30 June 2013.
{{cite web}}
: CS1 maint: bot: original URL status unknown (link) - ^ "Schaeffler legt Grundstein für Werk in Ulyanovsk". nov-ost.info Wirtschaftsnachrichten. 11 June 2013. Retrieved 4 July 2013.
- ^ "Schaeffler starts building a factory in Ulyanovsk for automotive components, with an investment volume of - RUB 2 billion". Interfax. Volga Region. 11 June 2013. Retrieved 4 July 2013.
- Axel Springer AG. Retrieved 22 January 2013.
- Axel Springer AG. Retrieved 7 January 2013.