Further step in generation change at Boehringer Ingelheim decided
Christian Boehringer takes over as Chairman of the Shareholders’ Committee, Hubertus von Baumbach joins Board of Managing Directors
08 September 2006 - Dr Heribert Johann, Chairman of the Shareholders’ Committee of Boehringer Ingelheim, will retire at the end of 2006 after more than 31 years with the Corporation. His successor will be Christian Boehringer, a member of this body since 2001.
At the turn of the year 2008-2009, a change will also take place on the Board of Managing Directors. Professor Marbod Muff, who will retire after working for the pharmaceutical company for 39 years, will be replaced by Hubertus von Baumbach, who will take over responsibility for Finance on the Board of Managing Directors.
Dr Johann, since 1989 Member of the Board of Managing Directors, and its Chairman from the beginning of 1992, has since 2001 been Chairman of the Shareholders’ Committee, Boehringer Ingelheim’s supervisory body. During his time as Chairman of the Board of Managing Directors, important foundations were laid for the current corporate structure, focusing the company on today’s successful business areas.
During his time as Chairman of the Shareholders’ Committee, the company drove this development further forward. Thus the basis for the Corporation’s primary goal - independence as a family-owned company – was further reinforced and expanded.
Mr Albert Boehringer, as the most senior Member of the Shareholders’ Committee, thanked Dr Johann preliminary on behalf of the owner family: “Dr Johann rendered outstanding service to Boehringer Ingelheim in many ways both during his time in operative management and his time as Chairman of the Shareholders’ Committee. We, the owner family, the Advisory Board, the Board of Managing Directors and the employees owe him a big thank-you.”
His work as Chairman of the Shareholders’ Committee was also characterised by the responsibility for accompanying and helping effect the switch from the third to the fourth generation of the owner family.
The general and further business education of Members of the Shareholders’Committee, both inside and outside the Corporation, as well as the owner family’s intensive contact with the company, are important elements in this process. “We assume that our decision today will be seen as a further sign of the continuity of Boehringer Ingelheim as a family-owned company and this corresponds expressly to the wishes of the third generation,” Albert Boehringer said.
Dr Alessandro Banchi, Chairman of the Board of Managing Directors, stated: “Boehringer Ingelheim’s success is also based on the relationship of trust between the Shareholders’ Committee and the Board of Managing Directors. We regard the decisions now taken by the Shareholders as important confirmation of their commitment to Boehringer Ingelheim as a family-owned company in the now fourth generation of Shareholders. The active interest and diverse engagement of the whole owner family in all areas and at all levels of the company motivate our employees worldwide to secure this uniqueness and independence with innovative medicines and therapies that benefit patients.”
Christian Boehringer and Hubertus von Baumbach both have completed an extensive international management education. Following military service, Christian Boehringer, today 41, undertook commercial studies, a degree course in business management and was a pharmaceutical product manager in England where he subsequently joined a European company of pharmaceutical consultants. He headed this company for three years.
Later, he switched for three years to international management at Henkel KGaA in Düsseldorf. On moving to Boehringer Ingelheim GmbH he took on responsibility for global CRM project management to raise sales force effectiveness, subsequently becoming the area manager responsible for the USA, Canada and Mexico.
After banking studies and a degree course in law with both state examinations, Hubertus von Baumbach obtained an MBA at MIT in Cambridge, USA. The 38 year old worked for two years at the US subsidiary of a listed international pharmaceutical group, then switching for two years to Boehringer Ingelheim Canada as a financial analyst. From 2001, Mr von Baumbach worked in various functions in Controlling at Boehringer Ingelheim GmbH and headed the department Subsidiaries Controlling before in 2006 becoming a Member of the Management Board of Boehringer Ingelheim Germany and head of the management area Finance.
The Boehringer Ingelheim group is one of the world’s 20 leading pharmaceutical companies. Headquartered in Ingelheim, Germany, it operates globally with 143 affiliates in 47 countries and almost 37,500 employees. Since it was founded in 1885, the family-owned company has been committed to researching, developing, manufacturing and marketing novel products of high therapeutic value for human and veterinary medicine.
In 2005, Boehringer Ingelheim posted net sales of 9.5 billion euro while spending almost one fifth of net sales in its largest business segment Prescription Medicines on research and development.
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