HELLA and Faurecia set course for joint future

Both firms will continue to operate as independent listed entities

HELLA and Faurecia set course for joint future

Following the successful takeover of HELLA by Faurecia on 31 January 2022, the course for the joint future has now been set at the constituent meeting of HELLA’s Shareholder Committee.

In addition to the new appointments to the committee, the meeting on 4 February 2022, also dealt with organisational issues and future areas of cooperation.

As a de facto group, Faurecia and HELLA, with a total of around 150,000 employees, is the world’s seventh-largest automotive supplier and one of the global market leaders in high-growth technology fields.

Based on Faurecia’s current slightly more than 80 per cent stake in HELLA, both companies will continue to operate as independent listed entities with their own governance.

HELLA CEO Dr. Rolf Breidenbach said: “We have now created essential prerequisites for opening up additional sales opportunities together with Faurecia, as well as for realising a wide range of synergy potentials, in order to further strengthen our competitiveness.

“Today’s Day One of our cooperation is thus, a very special milestone for both companies.

“I would therefore like to thank all those involved who have paved the way over the past few months.”

Patrick Koller, CEO of Faurecia, said: “By combining our strengths, we will have the critical size and advanced technology capability in all our Business Groups, making us an even more valued partner for the automotive industry.

“We look forward to playing a major role as a global innovator and solutions provider, shaping a safe, sustainable, advanced and customised mobility.

“Focused on growth opportunities, we will bring long-term value for our customers and shareholders, as well as offering a more responsible and sustainable mobility for future generations.”

As a result of the takeover of HELLA by Faurecia and the associated withdrawal of the representatives of the family pool, the company’s Shareholder Committee has been reconstituted.

The previous three external members of the committee: Carl-Peter Forster (Chairman), Horst Binnig and Klaus Kühn, will continue to be members of the HELLA Shareholder Committee. New members of the Committee are: Patrick Koller (CEO Faurecia), Nolwenn Delaunay (EVP, Group General Counsel & Board Secretary, Faurecia), Michel Favre (EVP, Group Chief Financial Officer, Faurecia), Christophe Schmitt (EVP, Group Operations, Faurecia) and Jean-Pierre Sounillac (EVP, Group Human Resources, Faurecia). They replace the previous representatives of the family pool on the HELLA Shareholder Committee.

With a stake of around nine per cent, the family pool is now Faurecia’s largest single shareholder and thus closely linked to the de facto group.

Against this background, Dr Jürgen Behrend’s appointment to the Faurecia Board of Directors, as representative of the family pool, will be proposed at the next Faurecia shareholders’ meeting.

To further strengthen the company’s agility and align its structures with those of Faurecia, HELLA will be organised along the three Business Groups: Lighting, Electronics and Lifecycle Solutions.

The newly formed Lifecycle Solutions Business Group, which combines the Aftermarket and Special Applications business segments, will be managed by Dr. Lea Corzilius in addition to her role as Managing Director Human Resources at HELLA.

HELLA CEO Dr. Rolf Breidenbach will continue to closely support the integration until his resignation end of June 2022 and has accepted to advise the de factor group beyond that date

As already announced on 4 February 2022, HELLA CEO Dr. Rolf Breidenbach has reached an agreement with the Shareholder Committee to terminate his CEO contract by mutual consent as of 30 June 2022, after more than 18 years in office.

Faurecia CEO Patrick Koller thanked Dr. Breidenbach for his “constructive cooperation over the past months”, as did Carl-Peter Forster, who expressed his “utmost gratitude” to Dr. Breidenbach on behalf of the Shareholder Committee.

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