Schaeffler Continental : the far-ranging adventures of Klaus Rosenfeld /
Schaeffler AG (Schaeffler), a global automotive and industrial supplier from Germany, listed on the German stock exchange, has always worked on diversifying their capital structure and increasing liquidity. Especially, since Schaeffler had accumulated liabilities of USD 23 billion as a result of its...
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| Format: | eBook |
| Language: | English |
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London :
SAGE Publications: SAGE Business Cases Originals,
2021.
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| Series: | SAGE business cases
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| Subjects: | |
| Online Access: | Connect to the full text of this electronic book |
| Summary: | Schaeffler AG (Schaeffler), a global automotive and industrial supplier from Germany, listed on the German stock exchange, has always worked on diversifying their capital structure and increasing liquidity. Especially, since Schaeffler had accumulated liabilities of USD 23 billion as a result of its hostile takeover of Continental AG in 2009. In addition, the automotive industry was suffering from the 2008 financial crisis, compounding Schaeffler's financial difficulties. The debts were overwhelming and almost led to one of the biggest bankruptcies in German history. Then and now, one person emerged as a key player in Schaeffler's refinancing: Klaus Rosenfeld. Klaus previously worked for the board of the biggest single lender to Schaeffler during the hostile takeover of Continental AG and became CEO of Schaeffler in 2014. His capital management strategies over the past decade helped Schaeffler to survive and subsequently expand. |
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| Physical Description: | 1 online resource. |
| Bibliography: | Includes bibliographical references and index. |
| ISBN: | 9781529763799 1529763797 |