Five Supervisory Board Members Resign at Grammer, Prompting Concerns
Amberg, Germany – Five supervisory board members at Grammer AG, including the chairman, Martin Kleinschmitt, have resigned their positions prematurely. The resignations will take effect on March 31st, as announced by the seat manufacturer. The regular re-election of the supervisory board is not scheduled until the annual general meeting in May.
The Chinese majority shareholder, Jiye Auto Parts, intends to have the court in Amberg appoint successors before they are formally confirmed at the shareholder meeting.
Union Expresses Concerns
The IG Metall union has expressed concerns about the developments. "We are worried that the changes in the management could have negative consequences for Grammer’s locations in Oberpfalz," said Udo Fechtner, the chief representative of IG Metall Amberg. "Our top priority is ensuring the security and future viability of jobs and workplaces in the region."
Background and Implications
The Grammer supervisory board consists of twelve members, half appointed by the management and half by the employees. The five departing supervisors are all management representatives. Jiye Auto Parts, a subsidiary of the Ningbo Jifeng Group, holds 86% of the shares. As such, the majority owners can determine who joins the supervisory board on the management side.
The reasons behind the resignations remain unclear, but indications suggest that the Chinese owners are seeking to exert greater control and appoint preferred candidates to the supervisory board. According to a company spokesperson, the five supervisory board positions were already scheduled to be filled. Chairman Martin Kleinschmitt and the four other outgoing members reportedly want to make way ahead of schedule. The spokesperson emphasized that the collective withdrawal "is not a vote of no confidence."
Financial Challenges
Grammer is headquartered in Ursensollen, near Amberg. The company will also lose its CFO, Jurate Keblyte, at the end of March, who is also leaving prematurely. Business has not been performing well, with both revenue and profits expected to fall short of previous estimates, according to Grammer’s earlier statements.
Conclusion
The resignations of five key supervisory board members at Grammer have raised concerns among workers and unions. The Chinese majority shareholder’s intentions remain unclear, but the move appears to be part of a broader strategy to increase their control over the company. With Grammer facing financial challenges, the potential impact of these changes on jobs and locations in Oberpfalz remains a significant concern.
