A way out of the crisis Sika
The owner wants to get rid communities of Sika three recalcitrant directors. Despite the escalation of a solution seems possible.
Apply with references to this article in or sign us error .
"Dry but never boring." So the anniversary report is titled, the Sika ( SIK 0.07% to 2,767) has published on the occasion of the 100th anniversary four years ago. The motto to provide the construction and adhesive manufacturers like sequence. Thus, the company recently invited a to a race track. Only a slingshot course was completed, then we drove at high speed across the tarmac - in BMW, Jaguar and Tesla, the lightweight body of Sika adhesives is held together.
Also recently boredom was not on the agenda. But the company is self-skid. The founding family has announced the sale of its controlling stake in the French Saint-Gobain, the nine people and six board members do not carry the decision with. In response, the family shareholders have an extraordinary general meeting. Three rebellious directors are to go early, including President Paul Hälg.
Entrenched
Most of all we would probably also the most recalcitrant other three directors rid Frits van Dijk, Ulrich Suter and Christoph Tobler. Of these, the founding family has refrained because the project could fail because of a qualified More, the company statutes prescribe for this case. For this is the new business lawyer Max Roesle butt as president to Sika, also a director Chris Tanner was nominated, current CFO of Cosmo Pharmaceuticals. On balance, the persons elected by the family Burkard had so from January the majority in the committee.
But should not the rest so that companies come. The Board rejected the majority owner, she put her resignation in view at the conclusion of the sale. This is likely to further harm not only the mood in the company, but also the beleaguered share. The management team is ascribed a key role in the success of recent years. One of its strengths is its long association with the operation: Most Division leaders are already since the eighties Sika, the current CEO of 1998 to Jenisch met.
Clash of business units as a solution
A greater upheaval threatens the company from Baar, riding on the wave of success in recent years. Despite hardened fronts incumbent President Paul Hälg not to give up hope. "I continue to work on solutions for the company," he says. Similarly said by the designated Board Chris Tanner. "In the near future, the most important task be to promote dialogue and build bridges between all those involved." Tanner, who sees himself as an independent director, is a longtime friend of Willi Leimer, of which about Schenker-Winkler Holding interests of the founding family at Sika represents.
While Saint-Gobain speaks of synergies in millions, interferes with the management of the conflicts of interest that would entail the entry of competitors by themselves. A possible way out of the crisis could be the transfer of overlapping business units between Saint-Gobain and Sika, say as business-related sources. Addressed are the areas of cement and mortar production and the tile adhesives. Overlaps make estimated that a maximum of 10 percent of sales from Sika and far less at Saint-Gobain. The French would cede this business, the Company no longer stood directly in competition. An important reason that speaks against the partial takeover, would thus be off the table.
The much-touted Sika Spirit
As the Sika management is such a solution was not to be found out on Wednesday. According to the business analysts Martin Hüsler of the Zürcher Kantonalbank, the clash of certain portfolios quite a variation. "All that would enhance the independence of Sika contributes to reducing conflicts of interest." According Hüsler Nevertheless, it is questionable whether the new constellation an essential would change. "In terms of strategic questions Sika remain dependent of Paris." According Remo Rosenau of the New Helvetic Bank is not the Sika culture is equivalent to be part of a major corporation. "The unique company spirit would be lost forever, and not just the top management."
Also a full takeover of the profitable Sika is likely to remain an issue in Saint-Gobain. What this would trigger the historic company, one can speculate at most. A reference to the self-understanding provides the 100th anniversary report. "Sika remains true to himself," It states in the concluding section. This reaffirms the "devotion and loyalty" of the owner's family and guarantees on their behalf "security, stability and continuity." The same site-touted duty of employees, "the name Sika to ensure" - they may have been damaged after the sale to Saint-Gobain well.