The third richest resident of Switzerland came to power at Lufthansa
During the pandemic, the assets of the largest shareholder in the logistics giant Schwyz Kuehne + Nagel grew by 17 billion francs. Now the 85-year-old dares to have a showdown at the Swiss parent company.
Klaus-Michael Kuehne at the headquarters of the logistics company Kuehne + Nagel in Schindellegi SZ.
Photo: Marcos Forte
Others his age are enjoying their well-deserved 20-year retirement. Not so Klaus Michael Kuhn, 85, the majority shareholder of the logistics company Kühne + Nagel based in Schindellegi SZ and the largest shareholder of shipping company Hapag-Lloyd.
It’s just a transformation Who can be found in the office almost every dayAnd the One gear higher: This year Kühne has gradually risen to become the largest shareholder in the Lufthansa Group. He took advantage of the fact that the German state wanted to get rid of his shares he had bought two years ago to save Europe’s largest airline. Kony gradually increased his stake from 5 to 10, then 15 and finally 17.5 per cent.
Wants to access Control Center
Now he is flexing his muscles. According to unconfirmed media reports, he initially agreed in a meeting with CEO Carsten Spohr and supervisory board chairman Karl Ludwig Klee that his longtime close friend Karl Gernandt should have a seat on the supervisory board by next year at the latest.
But this is no longer enough for him. As the German newspaper “Handelsblatt” reported this week, in another meeting with Kley and Spohr, he also requested a place on Gernandt’s important exam board. This is the control center: the most important people on the committee are discussed and the financial framework for the strategy is defined.
Uncomfortable contributor
When Kuhn surprisingly increased his stake in Lufthansa to 10 percent in the spring, it was already clear that the company’s top management could expect an uncomfortable shareholder. Because the Hamburg native, who lives in Schindellegi, is not known to stop cash in businesses and then stay silent.
He already showed that when he bought the German football club Hamburg as a major shareholder. He linked a €120 million injection on the condition that he would get more say. The club management initially refused the offer. But now things seem to be moving – the debt-laden club is heavily dependent on Kuhn’s money.
As “Handelsblatt” wrote, Kühne and Gernandt, with the Lufthansa stock package behind them, became a counterweight to the chairman of the power-conscious Supervisory Board, Karl-Ludwig Kley. This raises doubts in business circles about whether he will run for re-election next year. Not only was Gernandt having a hard time with Kley, but among staff representatives it was said it was time for a change at the top of the supervisory board.
The Lufthansa Group has become the scene of a number of industrial disputes between pilots, cabin crew and management this year. In the middle of the summer vacation, the ground crew paralyzed Lufthansa. Eurowings subsidiary pilots are currently on strike. and the Swiss pilots are also threatening to go on strike.
His fortune grew by 17 billion in a year
A spokeswoman said that despite the labor disputes, Kuhn had a “positive view” of the company. He has enough money for constant optimism: with a private fortune estimated at 29-30 billion francs, he is the sixth-richest European and the third-richest resident of Switzerland.
He came out of the pandemic as a big winner. Due to bottlenecks in global transportation networks, profits of Kuehne + Nagel, the world’s largest provider of sea and air freight, have soared. Klaus-Michael Kühne recorded the largest rise in the wealth rating of 2021 for the business magazine “Bilanz”, an increase of 17 billion Swiss francs compared to the previous year.
Found an error?Report now.
“Tv expert. Hardcore creator. Extreme music fan. Lifelong twitter geek. Certified travel enthusiast. Baconaholic. Pop culture nerd. Reader. Freelance student.”
More Stories
People – American star Kim Kardashian in Hamburg – Economy
RICO is interested in the Cilander area – appenzell24.ch
That general meeting was 2024