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Author: Cornelia Wels-Maug
IDS Scheer has announced that its long-standing spokesman of the board and most recently CFO, Helmut Kruppke, will leave the company on 28 February 2007 'on good terms'. CEO Thomas Volk will act as interim CFO until a suitable external successor with international experience is found.
Comment: Kruppke was only recently named CFO (see EuroView Daily Comment, 16 August 2006). At the end of July, IDS Scheer announced extensive restructuring of its management, which significantly changed his responsibilities as of 1 September. Until than, Kruppke had been spokesperson of IDS'S management board for six years, and was responsible for global consulting, finance, HR, legal matters and investor relations.
He had not been CEO, as many English sources have it, but he was the most influential board member of IDS due to his multiple responsibilities. This fact, combined with his role as a spokesperson of the board made him IDS's quasi CEO. However, this all changed this month, when, for the first time in its history, IDS installed a CEO in the person of Thomas Volk.
Helmut Kruppke has been part of IDS's success story and has been actively supporting and formulating its growth strategy, which resulted in the changes described above. He was instrumental in expanding the management team, which meant a cut in his own responsibilities - he stopped being a spokesperson and handed over the responsibilities for consulting to the new board member Dirk Oevermann. Though he helped laying out IDS's growth path, he will not be longer around to execute it, but the company is firm that he is leaving on his initiative and on good terms.
His successor will be an external recruit with an international background, taking into account that in future international business will become even more important for IDS. Therefore, a good knowledge of international statutory accounting requirements will be an important selection criterion!
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