HELLA GmbH & Co. KGaA
- WKN: A13SX2
- ISIN: DE000A13SX22
- Land: Deutschland
Nachricht vom 07.02.2022 | 08:00
HELLA GmbH & Co. KGaA: HELLA and Faurecia set the course for a joint future
DGAP-News: HELLA GmbH & Co. KGaA
/ Key word(s): Mergers & Acquisitions/Merger
HELLA and Faurecia set the course for a joint future
- Together, Faurecia and HELLA form the seventh largest automotive supplier worldwide and a global market leader in high-growth technology fields
- Representatives of Faurecia move into HELLA's Shareholder Committee in place of the previous representatives of the Family pool
- Initial decisions made related to organizational structures
- HELLA CEO Dr. Rolf Breidenbach will continue to closely support the integration until his resignation end of June 2022 and has accepted to advise the de factor Group beyond that date
Following the successful takeover of HELLA by Faurecia on 31 January 2022, the course for the joint future has now been set at the constituent meeting of HELLA's Shareholder Committee. In addition to the new appointments to the committee, the meeting on 4 February 2022, also dealt with organizational issues and future areas of cooperation. As a de facto group, Faurecia and HELLA, with a total of around 150,000 employees, is the world seventh-largest automotive supplier and one of the global market leaders in high-growth technology fields. Based on Faurecia's current slightly more than 80 percent stake in HELLA, both companies will continue to operate as independent listed entities with their own governance.
"HELLA and Faurecia are strong companies, and together we are even stronger," says HELLA CEO Dr. Rolf Breidenbach. "Thus, we have now created essential prerequisites for opening up additional sales opportunities together with Faurecia, as well as for realizing a wide range of synergy potentials in order to further strengthen our competitiveness. Today's Day One of our cooperation is thus a very special milestone for both companies. I would therefore like to thank all those involved who have paved the way over the past few months."
Patrick Koller, CEO of Faurecia, also expresses his thanks and adds. "By combining our strengths, we will have the critical size and advanced technology capability in all our Business Groups, making us an even more valued partner for the automotive industry. We look forward to playing a major role as a global innovator and solutions provider, shaping a safe, sustainable, advanced and customized mobility. Focused on growth opportunities, we will bring long-term value for our customers and shareholders, as well as offering a more responsible and sustainable mobility for future generations."
Representatives of Faurecia move into HELLA's Shareholder Committee in place of the previous representatives of the family pool
As a result of the takeover of HELLA by Faurecia and the associated withdrawal of the representatives of the family pool, the company's Shareholder Committee has been reconstituted. The previous three external members of the committee, Carl-Peter Forster (Chairman), Horst Binnig and Klaus Kühn, will continue to be members of the HELLA Shareholder Committee. New members of the Committee are Patrick Koller (CEO Faurecia), Nolwenn Delaunay (EVP, Group General Counsel & Board Secretary, Faurecia), Michel Favre (EVP, Group Chief Financial Officer, Faurecia), Christophe Schmitt (EVP, Group Operations, Faurecia) and Jean-Pierre Sounillac (EVP, Group Human Resources, Faurecia). They replace the previous representatives of the family pool on the HELLA Shareholder Committee.
With a stake of around 9 percent, the family pool is now Faurecia's largest single shareholder and thus closely linked to the de facto Group. Against this background, Dr Jürgen Behrend's appointment to the Faurecia Board of Directors, as representative of the Family pool, will be proposed at the next Faurecia shareholders' meeting.
Initial decisions made related to organizational structures
To further strengthen the company's agility and align its structures with those of Faurecia, HELLA will be organized along the three Business Groups Lighting, Electronics and Lifecycle Solutions. The newly formed Lifecycle Solutions Business Group, which combines the Aftermarket and Special Applications business segments, will be managed by Dr. Lea Corzilius in addition to her role as Managing Director Human Resources at HELLA.
HELLA CEO Dr. Rolf Breidenbach will continue to closely support the integration until his resignation end of June 2022 and has accepted to advise the de factor Group beyond that date
As already announced on 4 February 2022, HELLA CEO Dr. Rolf Breidenbach has reached an agreement with the Shareholder Committee to terminate his CEO contract by mutual consent as of 30 June 2022, after more than 18 years in office. "With Faurecia as HELLA's new majority shareholder, the way is now paved for a successful future. The two companies complement each other perfectly," said Dr. Rolf Breidenbach on this occasion. Until his resignation, he will continue to closely support the integration with Faurecia and has accepted to advise the de facto Group beyond end of June 2022. Faurecia CEO Patrick Koller thanked Dr. Breidenbach for his "constructive cooperation over the past months," as did Carl-Peter Forster, who expressed his "utmost gratitude" to Dr. Breidenbach on behalf of the Shareholder Committee.
On the occasion of the cooperation between HELLA and Faurecia, a joint press conference will be held today at 11:00 am (CET) to present the ambitions as well as the new name of the de facto group.
HELLA GmbH & Co. KGaA, Lippstadt: HELLA is a global, family-owned company listed on the stock exchange, with over 125 locations in some 35 countries. With currency and portfolio-adjusted sales of € 6.5 billion in fiscal year 2020/2021 and more than 36,000 employees, HELLA is one of the world's leading automotive suppliers. HELLA specialises in innovative lighting systems and vehicle electronics and has been an important partner to the automotive industry and aftermarket for more than a century. Furthermore, in its Special Applications segment, HELLA develops, manufactures and sells lighting and electronic products for specialist vehicles.
For more information, contact:
Dr. Markus Richter HELLA GmbH & Co. KGaA
|Company:||HELLA GmbH & Co. KGaA|
|Rixbecker Str. 75|
|Phone:||+49 (0)2941 38-7125|
|Fax:||+49 (0)2941 38-6647|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Munich, Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Tradegate Exchange; Luxembourg Stock Exchange|
|EQS News ID:||1277132|
|End of News||DGAP News Service|
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