Report on new CEO: Is Bilfinger already become find? – N-tv.de NEWS

 Economy
 

 Thursday, April 14, 2016

 
 
 

 
 It runs lately not too good at Bilfinger. The last bang was the surprising withdrawal of CEO Utnegaard. Now talks are held with potential successors – a Brit seems to have a good chance .
 

 
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The Linde Manager Thomas Blades could the new head of the construction and services group Bilfinger be and therefore follow the surprisingly resigning CEO Per Utnegaard. The company indicated to hold talks with blades and other candidates.

Previously had “Manager Magazin” reported the chairman Eckhard Cordes was with the British Blades already virtually unanimous. Bilfinger stressed that a decision had not yet been taken. They want the future CEO but announce “shortly”. Also Cordes told the “Handelsblatt”, a successor will be determined shortly.

On Wednesday the ailing construction and engineering company had announced that Utnegaard after only eleven months in office excretes end of the month. He’ll go for personal reasons and not because there are differences on the Group’s strategy, reaffirmed Cordes.

The 59-year-old Briton Blades is at Linde since 2012 in the Americas and among others, the fields Medical and noble gases responsible. The oil and gas expert previously worked at Siemens, Halliburton and Schlumberger. The expertise of native hamburger would be valuable for Bilfinger because the difficulties of energy and oil companies by the energy transition and the low oil prices make the technology provider Bilfinger to create.

In the Mannheimer Group it goes for nearly two years under it turvy. The starting point of the crisis was the loss-making power plant business. The energy transition and management errors were the orders for the construction and maintenance of power plants break. The former prime minister of Hesse Roland Koch had to resign after several profit warnings in summer, 2014. Within a short time almost the entire board has been replaced, approximately 2,000 jobs were spared. Meanwhile, the low price of oil and the weak economic burden on the business.

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The group is possibly facing a radical reduction: The construction and real estate business, from the two remaining divisions currently more profitable to, may be sold. The decision is not only a question of price, Cordes told the “Handelsblatt”. When lossy power plant division already for sale it is a question whether Bilfinger could realize his values. The change of leadership prevailed at Bilfinger any case no decision jam as CFO Axel Salzmann the top job could substitute perfectly clear.

Last year, Bilfinger posted a record loss of nearly half a billion euros. According to Cordes, however, the worst is behind the Kurpfälzern. “Bilfinger is rock solid and has further potential.” The Swedish financial investor Cevian, with more than 25 percent the largest shareholder of Mannheim, has the commitment, however, so far no joy. Bilfinger shares are listed significantly below the starting price of Sweden. Which is listed in the MDAX share increased by 0.8 percent. On Wednesday she had lost 2.1 percent.

  Source: n-tv.de
 

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