He just will not rest: With his complaints drives minority owner Erich Keller throat Media Saturn before it. Although he conceded before a court in a bankruptcy Ingolstadt. However, a more significant process in Munich went in his favor.
has the power struggle at Europe’s largest electronics retailer Media-Saturn two courts busy in Bavaria on Thursday. After the almost simultaneous negotiations in Munich and Ingolstadt rejoiced both the principal owner of Metro and minority owner Erich Keller neck successes. Both sides have been arguing for years about who at Media-Saturn has the say. Keller neck holds nearly 22 percent of the shares, the rest belongs to the Metro Group.
Keller neck is seen in the dual role conflict of interest have
In Ingolstadt suffered Kellerhals a setback: He wanted a request from the detachment of the Metro Board Pieter Haas at the forefront of media reach Saturn. The Chamber rejected the application, however, and decided that Haas can continue to remain CEO. The Metro Group had Haas sent to Media-Saturn to promote the realignment of the electronics chain. This fit Kellerhals not: He is said to have seen in the dual function of a conflict of interest.
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From the perspective of the judge ordering Haas Managing Director was neither “bad faith nor unreasonable” and thus in effect. A Metro spokesman welcomed the decision: Haas could now continue his work undisturbed at Media-Saturn of legal Störfeuern together with his colleagues. “We very much hope, also in terms of employees that now getting quieter.”
In Munich, however Kellerhals recorded a point for themselves: The Court of Appeal gave its appeal against an earlier judgment of the District Court of Ingolstadt in large parts instead. In the process, it was inter alia to the question of who can co-decide on the opening of new locations. The investment company Convergenta the Keller family neck evaluated the decision as a success. “The court has made clear that the general meeting is responsible for opening new locations, and that decisions can not fall without or against the votes of Convergenta Invest GmbH.” Thus, the Court has strengthened the rights of shareholders of Media-Saturn.
The Metro Group responded promptly. “The statement of Convergenta is very brave, as in our opinion reliable conclusions from the recent statements of the Court are not possible.” The Munich Higher Regional Court had merely treated individual location decisions at Media-Saturn from December 2012. Significant effects for the operating business is not currently expect. “In the lawsuit it was primarily to formalities in the voting behavior of members in individual cases.”
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