Wednesday , May 25 2022

Ulrich Schumacher receives millions from Zumtobel | Lighting industry | sectors



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In a dispute between producer Vorarlberg Zumtobel and his former chief executive, Ulrich Schumacher, a comparison was made at the Feldkirch Regional Court. This is reported to Zumtobel.

After this comparison, Zumtobel obliges Schumacher to pay 1.5m euros gross. That's about a third of Schumacher's asking for 4.4 million euros.

The vast majority of this amount can be attributed to claims for compensation from past financial years and has already been set aside, the company continues. Zumtobel's Supervisory Board will decide this week to accept this agreement.

After leaving the company in February 2018, Schumacher sought millions from his former employer. Schumacher then justified this argument by arguing that his dismissal was unjustified. More about: Millions of lawsuits by Ulrich Schumacher against Zumtobel >>

By contrast, at the Annual General Meeting in June 2018, the majority of shareholders voted against the dismissal of the former CEO of the Group. More: Zumtobel: The Annual Assembly rejects Schumacher's dismissal >>

At that time, the company listed four reasons for Schumacher's replacement: the breakdown of relations with the chairman of the supervisory board Jurg Zumtobel, the illumination of Schumacher's private large garage in Germany at the expense of the company, the invoiced flight costs and about 20 business contracts concluded without the approval of the supervisory board.

The industrial company Vorarlberg appointed Southern Tyrol Alfred Felder as the new executive director in June last year. Felder repeatedly spoke critically about a dispute between the company and its predecessor – but also the company's management.

INDUSTRIAL MAGAZINE to:
Zumtobel Director Alfred Felder: Healer instead of the Savior >>

Zumtobel-Neo-Chef Felder: "It's not all smooth" >>

The lamp manufacturer is in the midst of a restructuring process. Recently, a part of the production from China has been returned to Europe and moved to the Serbian city of Nis. Zumtobel said that production costs in China are now higher than in some regions of Europe. Zumtobel brings production from China to Serbia >>

(Red)

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