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Klaus Esser
Kalakanthi: /* Criminal Trial */
'''Klaus Esser''' is a [[German]] lawyer and former CEO of [[Mannesmann]]. He current serves as an Advisory Director at [[General Atlantic]].<ref>Liquid error: wrong number of arguments (given 1, expected 2)</ref>
== Career ==
In 1999, Esser was appointed as CEO of Mannesmann, where he oversaw the firm's hostile takeover by [[Vodafone]].<ref> DW 03.02.2010|last=Ulrich|first=Klaus|date=|website=DW.COM|language=en-GB|url-status=live|archive-url=|archive-date=|access-date=2019-10-14}}</ref> Despite his initial opposition to Vodafone's acquisition attempts, Esser ultimately agreed to a price of $180 million.<ref>Liquid error: wrong number of arguments (given 1, expected 2)</ref> Immediately following the buyout, Esser received a bonus payment worth approximately $15 million.<ref></ref> The payment provoked outrage in Germany, where executive salaries remained lower than in Britain or the United States.<ref>Liquid error: wrong number of arguments (given 1, expected 2)</ref>
== Criminal Trial ==
Shortly after the acquisition, German prosecutors launched a criminal investigation into Esser's conduct to determine whether the promise of redundancy payments by Vodafone had influenced Esser's decision to approve the deal.<ref>Liquid error: wrong number of arguments (given 1, expected 2)</ref> Along with six other former managers of the company, he was charged with criminal breach of trust. Ultimately, Esser and his co-defendants were acquitted by Düsseldorf's regional court.
In 2005, prosecutors launched an appeal in the Germany's federal court, describing the financial award given to Esser as "unique in its level."<ref>Liquid error: wrong number of arguments (given 1, expected 2)</ref> The case culminated in a settlement, with Esser paying 1.5 million euros in return for prosecutors dropping the charges levied against him.<ref>Liquid error: wrong number of arguments (given 1, expected 2)</ref>
== References ==
<references />
== Career ==
In 1999, Esser was appointed as CEO of Mannesmann, where he oversaw the firm's hostile takeover by [[Vodafone]].<ref> DW 03.02.2010|last=Ulrich|first=Klaus|date=|website=DW.COM|language=en-GB|url-status=live|archive-url=|archive-date=|access-date=2019-10-14}}</ref> Despite his initial opposition to Vodafone's acquisition attempts, Esser ultimately agreed to a price of $180 million.<ref>Liquid error: wrong number of arguments (given 1, expected 2)</ref> Immediately following the buyout, Esser received a bonus payment worth approximately $15 million.<ref></ref> The payment provoked outrage in Germany, where executive salaries remained lower than in Britain or the United States.<ref>Liquid error: wrong number of arguments (given 1, expected 2)</ref>
== Criminal Trial ==
Shortly after the acquisition, German prosecutors launched a criminal investigation into Esser's conduct to determine whether the promise of redundancy payments by Vodafone had influenced Esser's decision to approve the deal.<ref>Liquid error: wrong number of arguments (given 1, expected 2)</ref> Along with six other former managers of the company, he was charged with criminal breach of trust. Ultimately, Esser and his co-defendants were acquitted by Düsseldorf's regional court.
In 2005, prosecutors launched an appeal in the Germany's federal court, describing the financial award given to Esser as "unique in its level."<ref>Liquid error: wrong number of arguments (given 1, expected 2)</ref> The case culminated in a settlement, with Esser paying 1.5 million euros in return for prosecutors dropping the charges levied against him.<ref>Liquid error: wrong number of arguments (given 1, expected 2)</ref>
== References ==
<references />
October 15, 2019 at 05:17AM
