Do you love family feuds à la Denver clan?
Then we have a very special treat for you: the fashion chain Peek & Cloppenburg.
First of all, you should know there are two companies with this name.
The sister companies P&C Nord, based in Hamburg, and P&C West, based in Düsseldorf, have had a mutual dislike for decades.
But that's not all.
Rags are also flying within the Düsseldorf line.
Patrick Cloppenburg
, the youngest son of the seriously ill patriarch
Harro Uwe
, tries everything he can to get himself and his sister
Catharina
power over the complex group.
The family of the patriarch holds 75 percent of the shares, the remaining 25 percent are in the hands of around 80 relatives, who already have little say in the matter.
Now the clan boss is trying to force the clan out of the company.
The relatives are said to sell their shares in subsidiaries to a company based in the Swiss low-tax canton of Zug for little money.
The 39-year-old wants to set up the new control center for P&C West there – which, of course, he controls himself.
Lawyers for the minority shareholders have already described the bids as "absurd".
But in times of low earnings due to the pandemic and a business model that threatens to fall out of time, they might still be of interest to one or the other family member.
Our colleague Martin Mehringer wrote down the family feud for you and explained how Cloppenburg snubs his fellow shareholders.
The business news of the day:
Rich, richer,
Elon Musk
: The
Tesla
boss is currently the richest person in the world with a fortune of 237 billion dollars.
By the end of this year it will probably be several billion more.
As the US broadcaster CNN reports, Musk will receive a further four stock option tranches in the current year because Tesla will achieve the agreed financial targets.
This gives Musk the right to purchase shares in his company at a price of $70.01 - not a bad deal at the current price of $920 per Tesla share.
Speculative, volatile,
Bitcoin
: In September last year,
El Salvador
became the first country in the world to introduce cryptocurrency as legal tender.
The International Monetary Fund (IMF) is now calling on the Central American state to revoke this status for the cyber currency.
The IMF criticizes that there are great risks associated with its use – for financial stability, financial integrity and consumer protection.
The personality of the day:
Change of leadership at the
German trade union federation
:
Yasmin Fahimi
is to become the new chairwoman of the trade union federation.
With the SPD politician at the top, a woman would lead the DGB for the first time.
Fahimi worked for the mining, chemical and energy industrial union for a long time and has been a member of the Bundestag since 2017.
The previous chairman ,
Reiner Hoffmann
, is retiring for reasons of age.
What else kept us busy:
Lessons from the
Wirecard
scandal:
Stevan van Rijswijk
has been at the helm of the major Dutch bank
ING
for a year and a half . After the losses caused by the Wirecard bankruptcy, the CEO is taking a cautious course and prefers to withdraw from unprofitable markets. He also advises his employees to only grant loans to companies that they understand correctly. In an interview, van Rijswijk told our colleague Katharina Slodczyk why the bank is also holding back when it comes to cryptocurrencies.
Transparency
for the Bundestag: Germany has had a new lobby register since January 1st.
All professional stakeholders must register there if they wish to speak to politicians.
However, there are still relatively few entries.
The fine of a maximum of 50,000 euros will hardly deter large corporations.
In an interview with our colleague Helmut Reich, Hartmut Bäumer
, Germany head of the anti-corruption organization
Transparency International
, explains what
Philipp Amthor
has to do with the law and why it urgently needs to be revised.
My recommendation for the evening:
Perhaps you know this from your own company: Many projects are being pushed ahead even though they no longer look quite as promising as originally thought.
The closer the launch date gets, the less willing many managers are to put everything to the test again.
However, this ties up resources for ideas that are already higher up in the prioritization.
In the worst case, the entire company is endangered.
How do you stop projects in time?
You can find out here using the example of Sony Ericsson.
Kind regards and have a relaxing end of the day, your Marleen Gründerl
PS: You can now also listen to this newsletter. You can find our
"Der Tag" podcast
every day from 6 p.m. on manager-magazin.de and wherever there are podcasts, for example on Spotify and Apple.
