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-   -   Ackermann quits as ZFS CoB (https://www.englishforum.ch/swiss-politics-news/186207-ackermann-quits-zfs-cob.html)

veloman 29.08.2013 15:13

Ackermann quits as ZFS CoB
 
The thought that he bullied a very personable guy (I'd met Pierre Wauthier a few times) to the point of suicide just sickens me.

http://www.nytimes.com/2013/08/30/bu...-quits.html?hp

Note to Josef Ackermann: please don't show yourself in public again. Ever.

NickGB 29.08.2013 20:24

Re: Ackermann quits as ZFS CoB
 
At least he gave a good reason.The family of Mr Wauthier holds him partially responsible! (unfounded, of course, according to him) Can you imagine the arrogance of blaming a family in mourning? What an ass!

MrVertigo 30.08.2013 20:01

Re: Ackermann quits as ZFS CoB
 
An article was published recently that mention the tension between Swisscom's Board Director and CEO Schloter. Apparently the suicide wasn't just a matter of family issues but also some sort of "bullying"
Source: Le Temps (french)

Wollishofener 31.08.2013 00:18

Re: Ackermann quits as ZFS CoB
 
Quote:

Originally Posted by veloman (Post 1963236)
The thought that he bullied a very personable guy (I'd met Pierre Wauthier a few times) to the point of suicide just sickens me.

http://www.nytimes.com/2013/08/30/bu...-quits.html?hp

Note to Josef Ackermann: please don't show yourself in public again. Ever.

There is absolutely no proof that Mr Ackermann bullied Mr Wauthier to any point. That the wife of Mr Wauthier claims so, is not proof of anything. Mr Ackermann DID what Mr Loosli at Swisscom should have done and still ought to do and that is to step back

Mr Ackermann very shortly after becoming CEO of the Zürich Insurance Group realized that the company financially and technically was far worse off that it looked. Insiders indeed knew for more than 20 years that it was what in German is än Saftlade / än Saustall . Being in a very profitable segment of the economy, it was not really in trouble, but the strategy reminded of the hunter-strategy of Mr Bruggisser at Swissair. Mr Wauthier in a way "polished" things just as Mrs Jacqualyn Fouse did do at Swissair.

Just as Mr Loosli, Mr Ackermann never was known to bully people

I think, you simply are not fair

Wollishofener 31.08.2013 00:29

Re: Ackermann quits as ZFS CoB
 
Quote:

Originally Posted by MrVertigo (Post 1964221)
An article was published recently that mention the tension between Swisscom's Board Director and CEO Schloter. Apparently the suicide wasn't just a matter of family issues but also some sort of "bullying"
Source: Le Temps (french)

I do not see bullying. That the former Mr COOP would not limit himself to the supervisory role of a chairman however was to be predicted. The resulting pressure on Mr Schloter was just an additional factor. Just one of apparently various factors.

Wollishofener 31.08.2013 00:33

Re: Ackermann quits as ZFS CoB
 
Quote:

Originally Posted by NickGB (Post 1963502)
At least he gave a good reason.The family of Mr Wauthier holds him partially responsible! (unfounded, of course, according to him) Can you imagine the arrogance of blaming a family in mourning? What an ass!

He did NOT blame the family of Mr Wauthier, but the family of Mr Wauthier blamed him --- just the other way round :o The only thing he did, quite correctly, was to refuse the allegation.

Nyonais 03.09.2013 01:25

Re: Ackermann quits as ZFS CoB
 
Wauthiers Witwe wollte Abschiedsbrief publik machen

http://www.tagesanzeiger.ch/wirtscha...story/20526735

Pierre Wauthier Suicide: Josef Ackermann Quit Zurich as Widow Planned to Read Final Letter at Funeral

http://www.ibtimes.co.uk/articles/50...-ackermann.htm

This news hurts us personally since the entire Wauthier family is very well known to one of our family members. This family member has spent a considerable amount of time with the Wautheirs. May Mr Wauthier's soul rest in peace and may the family have the courage and fortitude to bear this irreparable loss.

Wollishofener 03.09.2013 02:23

Re: Ackermann quits as ZFS CoB
 
Quote:

Originally Posted by Nyonais (Post 1966320)
Wauthiers Witwe wollte Abschiedsbrief publik machen

http://www.tagesanzeiger.ch/wirtscha...story/20526735

Pierre Wauthier Suicide: Josef Ackermann Quit Zurich as Widow Planned to Read Final Letter at Funeral

http://www.ibtimes.co.uk/articles/50...-ackermann.htm

This news hurts us personally since the entire Wauthier family is very well known to one of our family members. This family member has spent a considerable amount of time with the Wautheirs. May Mr Wauthier's soul rest in peace and may the family have the courage and fortitude to bear this irreparable loss.


Alright. I hope that the member of your family also NOW will support the Wauthiers in their worst hours. But, to say it again, the approach of Mrs Wauthier, to get and attack a scapegoat without serious proof was WRONG. Mr Ackermann acted decently and intelligently. But if he gets attacked further, he will be forced to hand over the matter to lawyers. And such lawyers do not care for a moment about what a family had to go through.

Another aspect is that the Wauthier family might realize that he worked for a rather messy company. My brother for a year worked with that company on the basis of promises he got (unfortunately not in writing --- Dad and me were furious) and all the promises were broken and declared to be misunderstandings. The experience at ZürichInsurance contributed to the early death of my brother.

Over to Mr Ackermann. The man tried to cure that company from a variety of problems. The company refused to take his lectures just as Swissair refused to take anything from anybody. It looks a bit as if he has taken the opportunity to get off-board right now, before the ship crashes.

What I wonder about and what may be very difficult to find out about is what exactly lead to the suicide of Mr Wauthier . Was it really business related ? Alright, he was angry about this and that. But if this was a basis for suicides than we would have hundred of suicides per day !

I still remember a strange conversation of years ago with a chap who was "executive" with a furntiture company in Zürich and was to take a position of them in Saudi Arabia. I envied him but HE told me that HE envied ME, because I, separate from my job, had built up a legacy and even in case of death the same evening would be in memory with thousands as the journalist/news-man of the aviation journal in question. I over the years have been instructor to some apprentices. That many of them in the meantime were highly successful and that some of them credit ME partially for all of it gives me the feeling to have done something useful !

Over to Swisscom. Mr Loosli, the chap who made COOP into what it is now, is now in deep shit. I do not believe that he CAUSED the suicide of the CEO there, but he should resign from office nvertheless

Treverus 03.09.2013 04:11

Re: Ackermann quits as ZFS CoB
 
Quote:

Originally Posted by Wollishofener (Post 1964378)
Just as Mr Loosli, Mr Ackermann never was known to bully people

Sorry, what? "Low Key Joe" was the most controversial bank CEO that has ever worked in Frankfurt. He is notoriously famous for creating a fierce competition between higher managers. He publicly announced that he expects nothing less from his management team than 25% of profit... He probably drove more people into a burn out than any Deutsche Bank CEO before him or likely ever again.

429 03.09.2013 08:33

Re: Ackermann quits as ZFS CoB
 
What I gather from the new is that not the widow made the first step in making the contents of that letter publicity known but Ackermann. My guess is that as soon as he found out that the only reason stated in that letter was him he jumped ship with an attack in order to be faster than the family, but that's just me wild guessing.

I don't think anyone in Frankfurt will remember him as particular friendly guy. But which top CEO is?

Wollishofener 03.09.2013 11:18

Re: Ackermann quits as ZFS CoB
 
Quote:

Originally Posted by Treverus (Post 1966343)
Sorry, what? "Low Key Joe" was the most controversial bank CEO that has ever worked in Frankfurt. He is notoriously famous for creating a fierce competition between higher managers. He publicly announced that he expects nothing less from his management team than 25% of profit... He probably drove more people into a burn out than any Deutsche Bank CEO before him or likely ever again.

Yes, to create a competition among managers is a well-known way to improve companies. That he drove those managers, grossly overpaid like himself, to a better performance was right. Such a bank is not a Club Med place :)

Wollishofener 03.09.2013 11:21

Re: Ackermann quits as ZFS CoB
 
Quote:

Originally Posted by 429 (Post 1966378)
What I gather from the new is that not the widow made the first step in making the contents of that letter publicity known but Ackermann. My guess is that as soon as he found out that the only reason stated in that letter was him he jumped ship with an attack in order to be faster than the family, but that's just me wild guessing.

I don't think anyone in Frankfurt will remember him as particular friendly guy. But which top CEO is?

The letter was not addressed to him, and according to his statement, it was the widow who said in public to read out the "death-letter" at the funeral. According to some media-reports, Mr Ackermann was increasingly fed up with the Zürich Group, which explains why he did not fight, but surrendered.

Dack Rambo 03.09.2013 11:37

Re: Ackermann quits as ZFS CoB
 
Quote:

Originally Posted by Treverus (Post 1966343)
Sorry, what? "Low Key Joe" was the most controversial bank CEO that has ever worked in Frankfurt. He is notoriously famous for creating a fierce competition between higher managers. He publicly announced that he expects nothing less from his management team than 25% of profit... He probably drove more people into a burn out than any Deutsche Bank CEO before him or likely ever again.

do you have any sources to back this up?


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