Speculation about power struggle at Implenia
Numerous media report on the background to the resignation of Implenia's Chairman of the Board Hubert Achermann. According to these reports, there was a power struggle between CEO Anton Affentranger and the Board of Directors.
Hubert Achermann, Chairman of the Board of Directors, had justified his resignation at the beginning of February with a lack of time. According to a report by the SonntagsZeitung of Feb. 14, however, he had resigned because the removal of CEO Affentranger had failed. According to the report, the board of directors decided in December to dismiss Affentranger. However, the decision had been overturned under pressure from the company's largest shareholder Max Rössler, who holds around 16 percent of Implenia shares through Parmino Holding.
Chairman Achermann has drawn the consequences from the lost power struggle and resigned. Two other members of the Board of Directors are now also planning to withdraw, according to the SonntagsZeitung. According to a report of the daily advertiser of 18 February (print edition), three members of the Board of Directors will resign at the next Implenia General Meeting: Vice Chairman Hans-Beat Gürtler and the two members Chantal Balet Emery and Patrick Hünerwadel. This means that four of the six members of the Board of Directors will change within a short period of time. Calvin Grieder and Henner Mahlstedt remain in office. As Implenia's major shareholder Rössler told the daily advertiser said that the departure of the four board members had been planned for some time and was only partly related to the power struggle between the board and CEO Affentranger.
The nomination of Hans-Ulrich Meister as the new member and Chairman of the Board of Directors was made at Affentranger's suggestion, according to the SonntagsZeitung further. Apparently, the former CS banker was already approached by Implenia's board of directors before Christmas about taking over as chairman of the construction group. Affentranger and Meister worked together in corporate banking for SBG (now UBS) in the 1990s. Affentranger was Meister's supervisor at the time.
Implenia has not yet officially commented on the background to the personnel changes. (ah)