Personnel Consequences in BayWa-Crisis

Conglomerate - Personnel Consequences in BayWa-Crisis

In the crisis of BayWa, there apparently are personnel consequences. A spokesperson confirmed that "necessary personnel measures for performance improvement" have been implemented at BayWa r.e., the business unit responsible for renewable energies. Previously, the "Handelsblatt" reported, citing an internal communication, that the CFO of BayWa r.e., Mihaela Seidl, had resigned effective immediately. This is in line with the fact that she was no longer listed under "Board of Directors" in the BayWa r.e. impressum as of Tuesday morning. Five days prior, this was still the case.

The BayWa Group, which is in billions in debt, announced about a week ago that it had commissioned a restructuring report. The report is supposed to improve the "strained financing situation." A major issue is the significantly increased interest payments for the credits, as can be inferred from the financial reports. In the first quarter, the business unit for renewable energies had to accept a massive decline in revenue and profit.

The BayWa stock was under pressure in the Xetra trading on Tuesday. Since the announcement of the report, it has lost more than half of its value on an annual basis, almost three quarters on a year-to-date basis.

1. The crisis in BayWa has also impacted the agriculture sector, as the group is a significant player in this field.
2. Amidst the financial crisis, BayWa has been exploring opportunities in the energy sector, particularly in renewable energy sources.
3. The crisis at BayWa has been widely covered in German media, featuring prominently in publications like the "Business Gazette."
4. The impact of the crisis extends beyond BayWa, as suppliers and partners in Bavaria and other regions are also facing consequences.
5. In response to the crisis, BayWa has been implementing measures to diversify its business portfolio, including a focus on handel and renewable energy.
6. The crisis in BayWa serves as a stark reminder of the challenges faced by conglomerates in the volatile global economy.

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