- Push-out Score suggests push-out forces
- After about six years in the position
- No successor named
(exechange) — Hamburg, Germany, June 21, 2018 — Stefan Heidenreich, chief executive of Beiersdorf, leaves. As announced by Beiersdorf AG in an ad-hoc statement on Thursday, June 21, 2018, Stefan F. Heidenreich leaves his post as Chief Executive Officer at the maker of Nivea skin creams after about six years in the role, effective before December 31, 2019.
Beiersdorf did not name a replacement for the position of Chief Executive Officer.
“In preparation for the annual strategy and planning meetings in September and December 2018”
A reason for Heidenreich’s departure from the CEO post was not explicitly given. Beiersdorf said: “The Supervisory Board discussed the further development of the successful ‘Blue & Beyond’ strategy, focused on Skin Care, including succession and corporate planning supported by growth investments as from 2019, also in preparation for the annual strategy and planning meetings in September and December 2018.”
Precise information about Heidenreich’s future plans was not immediately available.
Beiersdorf said: “The Supervisory Board of Beiersdorf Aktiengesellschaft, Hamburg, and the Company’s Chairman of the Executive Board, Stefan F. Heidenreich, have reached an amicable agreement at today’s Supervisory Board meeting that he will resign from the Executive Board when his current term of office ends on December 31, 2019. Stefan F. Heidenreich will vacate his post earlier, if and when the Supervisory Board appoints a successor.”
Share price rise since September 2011
The change follows a rise in the share price of Beiersdorf AG since September 2011.
Chaired by Reinhard Pöllath
Beiersdorf AG is chaired by Reinhard Pöllath.
He serves as Member of the Supervisory Board since Mai 2002 and as Chairman since April 2008.
In the position of CEO since 2012
Stefan F. Heidenreich has been the Chief Executive Officer of Beiersdorf AG since April 26, 2012.
Heidenreich’s CV reads as follows:
- Born 1962 in Bremerhaven
- Studies of Business Administration in Kiel (Germany)
- 1987 – 1992 Brand Manager, Procter & Gamble
- 1992 – 1993 Marketing Director Eastern Europe / GM Czech Republic & Slovakia, Reckitt Benckiser
- 1994 – 1996 Managing Director Marketing & Sales, Bertelsmann
- 1996 – 2004 Member of the Executive Board, Hero Gruppe
- 2004 – 2011 Chief Executive Officer, Hero Gruppe
- since 2012 Chief Executive Officer, Beiersdorf AG.
As a general rule, when a top leader announces to step aside with no successor available, it is a sign that the change was unexpected and too early.
Generally speaking, potential causes for an unexpected management change can be, among others, disagreement or dispute.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Stefan Heidenreich’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.
Read the full story in the exechange report 26.2018 ($).