Word: mohn
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Dates: during 2000-2009
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...assets, including the controversial online file-sharing site Napster and the now defunct Rosie magazine in the U.S. Still, Thielen's biggest challenge was an internal one: Thomas Middelhoff, the flamboyant CEO Thielen replaced, left behind a simmering crisis between the $22 billion firm and its key owners, the Mohn family. Reinhard Mohn, the 82-year-old patriarch, was so upset by Middelhoff's tenure that he rewrote his own governance rules to give the family a bigger role, sparking open criticism...
...foundation set up by Klaus Tschira, a co-founder of the German software firm SAP, which funds science competitions and antismoking campaigns, and a $250 million foundation set up in 2000 by Shell, the Anglo-Dutch oil giant. In Germany some newer foundations are following the example of Reinhard Mohn, who built Germany's Bertelsmann into a media powerhouse after World War II and in 1993 transferred the company's ownership to a foundation that now has about €735 million in assets. In Belgium Luc Tayart de Borms oversees the €227 million King Baudouin Foundation, which...
...foundation set up by Klaus Tschira, a co-founder of the German software firm SAP, that funds science competitions and antismoking campaigns, and a $250 million foundation set up in 2000 by Shell, the Anglo-Dutch oil giant. In Germany some newer foundations are following the example of Reinhard Mohn, who built Germany's Bertelsmann into a media powerhouse after World War II and in 1993 transferred the company's ownership to a foundation that now has about $900 million in assets. In Belgium Luc Tayart de Borms oversees the $250 million King Baudouin Foundation, which...
Bertelsmann's Reinhard Mohn, 83, does have children, including a daughter who is active in the foundation and a son who works at the company. And the way he set up his foundation as the firm's major shareholder means the family will continue to have an influence in the business even after his death. That's controversial. Some managers at the company have criticized the role played by his wife Liz, 63, in the recent ousters of two top executives. But Mohn is committed to his vision of improving society and he wanted the Bertelsmann Foundation--unlike many...
...company has been rattled by ferocious criticism from Reinhard Mohn. Last month, in a book about his management philosophy and in an accompanying essay published by a German newspaper, he wrote that he had underestimated the vanity of some executives: "The search for glory has incited many a manager to 'acts of heroism,' and not infrequently led to irresponsibly big investments." Reinhard added that he wants his family, led by Liz, to play a more forceful role at Bertelsmann by, for example, implementing the "fundamental principles of a humanistic corporate leadership," which in practice means avoiding layoffs whenever possible...