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BMW investor Klatten to head SGL supervisory board - sources
February 18, 2013 / 11:06 PM / 4 years ago

BMW investor Klatten to head SGL supervisory board - sources

2 Min Read

FRANKFURT, Feb 18 (Reuters) - Germany's richest woman, Susanne Klatten will become head of the supervisory board at SGL Carbon, thus extending her influence over the carbon fibre specialist, two sources familiar with the matter told Reuters on Monday.

SGL, the only European maker of fibres that go into ultra-lightweight carbon reinforced plastics, was the subject of a headline-grabbing tussle between carmakers BMW, in which Klatten and her family are major investors, and Volkswagen in 2011.

BMW at the time secured a 15.7 percent stake in SGL, stealing a march on archrival Volkswagen, which controls a 8.18 percent stake.

Carbon fibre is 30 percent lighter than aluminium and 50 percent lighter than steel, offering carmakers a way to help cut vehicle weight and carbon dioxide emissions.

Klatten, currently deputy chairwoman of the supervisory board, owns just under 27 percent of SGL Carbon via the Skion holding company.

"All signs point to Klatten taking over as head of the board," one of the sources told Reuters.

Current Chairman Max Dietrich Kley will vacate the role at the next annual shareholder meeting on April 30.

SGL declined to comment, beyond saying that the agenda for the gathering and the list of candidates for any vacant board positions will be discussed on March 12 at a supervisory board meeting. (Reporting by Frank Siebelt; Writing by Victoria Bryan; Editing by Marguerita Choy)

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