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The Ex-Switzerland boss criticised FIG-leadership

It was an abrupt departure – and it could be a more expensive. According to a report in the "Switzerland on the weekend" could, ABB chief Ulrich spies get Hofer 24 million Swiss francs for his departure – payments for the notice period of 12 months, as well as the compensation for the prohibition of competition of one year from shares.

If the proud of compensation is justified, is debatable, Spiesshofer says in the criticism. So also the former head of FIG Switzerland is not a good hair the running of the company. Spiesshofer have promised to "always too much and too little is held," says Edwin Somm. "He has not achieved the objectives and, thus, for customers, employees and shareholders lost much trust."

"Three catastrophic, fatal errors"

Hard in the court of Somm goes well with the Board of Directors (BOD), which he himself heard from 1997 to 2002. "He has committed three disastrous, fatal errors," says the former top Manager. First of all, he keeps the sale of the electricity network business – the heart piece of FIG – is wrong. It bothers him that the company claimed leadership over the years, the division will belong to because of the many synergies with other areas of ABB and then, under pressure of activist investors died horrible death. "You can't say that for many years, the sale was bad, but you pull through," Somm.

Secondly, the 86-Year-old finds it "completely wrong" that the 8 billion Swiss francs, the FIG accrue through the sale of the power grid division of the Japanese Hitachi group, in the Form of a share buy-back programme will be distributed to the shareholders. "One should not give all the money to the shareholders, but in the training of employees and in research and development."

"Timely candidate

missed search" Thirdly, Somm criticized the VR, because he has not presented a new chief Executive officer. "I'm amazed that the Board of Directors may shake no successor from the Sleeves and even just this week, the successor search launched, although for some time became clear that Spiesshofer has to go." Somm, Chairman of the Board Peter Voser, he thinks otherwise large pieces, would in time need to at least build two candidates.

Somm was one of the most important captains of industry in Switzerland. He led after the merger of BBC and Asea to ABB from 1988 to 1997, the Swiss national society. Then he sat up in 2002 in the VR of the ABB group. In addition, he served as President of the two associations of the machinery industry (today Swissmem) and has served on the Committee of the suburb (today Economiesuisse).

This Text is from the current issue. Now all of the articles in the E-Paper of the Sunday newspaper, read: App for iOS App for Android – Web-App (Sunday newspaper)

Created: 20.04.2019, 19:12 PM

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