Overview
- The supervisory board declined to express confidence in CEO Frank Hiller at its Jan. 6 session but stopped short of dismissing him.
- A follow‑up meeting is scheduled for Thursday to consider an early termination of Hiller’s tenure after only about ten months in the role.
- Persistent friction between Hiller and turnaround chief Michael Baur has weakened the CEO’s standing, while major cooperative shareholders pressed for a clearer strategy in a letter.
- Options are constrained by costs, with an amicable exit implying a severance the indebted company can scarcely afford and a dismissal without cause risking a costly legal fight.
- Baywa is restructuring after years of leveraged expansion that left nearly €7 billion of debt and a €1.6 billion loss in 2024, as prosecutors, BaFin and Apas review the 2023 accounts and former auditors.