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108109_MM_20170119.pdf

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FIRST-HAND ECONOMY Ready for 2/2017 DE 9.00 EUR
the stock exchange?

OPPENHEIM-
SCANDAL
The sweet one
Life of
Fractional bankers

THE
TESLA PRINCIPLE
Fast, brutal, daring - like Elon Musk
Mercedes, BMW and Audi keep their distance

Shipping companies Frankfurt Trumponomics


The King of The Shtetl of The Animal Austria EUR 9.80 | Switzerland sfr 14.70
Crusader Jewish hipster instincts are back Benelux EUR 10.00 | France,
Italy, Portugal, Spain EUR 10.80 |
Spain Canary Islands EUR 11.00
Vodafone
Power to you
OUR
GIGANETZ
CLOSES INDUSTRY
INDUSTRY
4.0
Accelerate digitization - with the worldwide
largest 4G | LTE network from Vodafone. 1

Ready for the gigabit business:


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2
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LTE network
Network test 2017
CHIP 01/2017
Vodafone
Independent testing since 1978

chip.de/ CD151460

* vodafone.de/Garantiebedbedingungen.
1
In a German competition comparison, Vodafone offers its customers in 103 partner countries the largest cross-border LTE network in the world (https://www.vodafone.de/privat/service/4g-roaming.html, 13.12.16).
Telekom maintains contractual relationships with 81 LTE partner countries worldwide (https://geschaeftskunden.telekom.de/startseite/mobilfunk/zubuchlösungen/343028/laendergruppen.html, November 15, 2016).
2
In the 2017 network test by CHIP magazine (issue 01/2017), Vodafone and Deutsche Telekom took first place in the “LTE network” category.
Vodafone GmbH Ferdinand-Braun-Platz 1 40549 Düsseldorf vodafone.de
EDITORIAL STEFFEN KLUSMANN
Editor-in-chief

The Silicon Valley defines


the new premium
GENIUS OR CUTE? With this key question, herb shredders moved the fun boat empire again
got my colleagues Michael Freitag and Jonas Rest in top form: doubled returns, revenues
the research. Not bettered by any other competitor, delighted investors. It was a success
Germany's car bosses are as annoyed as they are by
Elon Musk with a bite and a leadership style, not diversity
Elon Musk. The Tesla boss turns his customers only enjoys propagating, but exemplifying. For a change
"Rolling experimental kits", bad with Tesla at times a Donald, from whom something can be learned, how
processed, easily flammable and on autopilot from mm reporter Michael Machatschke after his
absolutely life-threatening, so the charge. And money
Silicon recognized visit to Miami. His portrait of the King
he burns his carts too. Despite- Valley of Cruise: from page 38.
Musk enjoys hero status in Silicon Valley, hero
Tesla fans love it (burn what may), and VOM SWEDISH AUTOMAKER VOLVO was
they keep increasing. With his for car guys
status, ren not much left under the aegis of Ford.
radically unorthodox thinking and a considerate, what When he then also still to the Chinese cheap
Daredevil Musk wanted a loose leadership style. car manufacturer Geely was sold, the chic
manages to de fi ne Tesla as the new premium. Sal the proud brand as sealed. It turned out differently
Even his worst opponents admit that. Whether or not it is the new owner turns out to be a stroke of luck.
now even succeed, with the new models Volvo is back again, the cars win prizes
roll up the upscale mass market, read and sell better than ever. For Geely Green
in our cover story from page 20. the Li Shufu is the revival of Volvo's only one
Intermediate step. He wants a Chinese folk
SAL. OPPENHEIM? You remember. That was the dare to create. Sounds crazy, but thought so
Gambling clique, all of them under the guise of “bankers” when buying Volvo. My colleague
Europe's former largest private bank almost ruined Angela Maier took a look around Gothenburg.
would have. Her piracy continues to this day. Her story "Yellow is the hope" draws
by the dozen, now it has a whole new picture of China: from page 66.
The most mined damaged customer, the Quelle heiress
Madeleine Schickedanz, on a comparison, FRANKFURT was long considered the most unattractive city
nigt. How it came about and why it was decreed by the former republic: junkies, wrecking balls,
Bruch bankers still have such outrageously drafty high-rise canyons today, at best as a
is going well, my colleagues Sören Jensen and the station for greedy investment bankers are interested
Christoph Neßhöver found out: from page 28. sant. But that was once upon a time. On his foray
through the city has banking expert Tim Bartz, a
AS THE CRUISE CAPTAIN SCHETTINO, who was born in Hamburg five years ago, discovered something astonishing -
the "Costa Concordia" ran aground, 32 people about the beneficial work of Jewish hipsters,
drowned and shortly afterwards also the machine in his adopted home just the club and
Reinvent the interior of the steamer “Carnival Triumph”. In the Taunus, on the other hand,
te, was a boss at the parent company Carnival - formerly a hotspot of the upper class, it is a draw today
change due. The largest cruise line for mainly Russians and Chinese. "The new main
World with its ten brands (including Aida), via stream ”: from page 98.
100 colossal ships and 100,000 employees
hired Arnold Donald, a Monsanto ma-Kind regards
rodents and african american made up of the poorest
Has fought all the way to the top. Out-
calculated this expert for seeds and

F E B R U A R 2 0 17 manager magazine 3
FOOD IS READY !

CONTENTS 2/2017
The stock exchange plans of the delivery
Delivery Hero page 54

20
TITLE COMPANY

Digital car
20 TESLA first has electric car opio- Hero: Tesla- 28 AFFAIR The main responsibility-
Chef Musk and
nier Elon Musk the German his model S lichen des Sal.-Oppenheim-
Premium manufacturer demonstrated. Almost all of the scandals live on
Now he is in the mass market in luxury. That could
on - and amazed even its changes in 2017.
harshest critic.
36 BEST PRACTICE CEO John Le-
24 Much more than a car: The company tells how it T-Mobile
braided by the Musk clan. in the USA from loser to
Industry pearl made.
NAMES AND MESSAGES
CARNIVAL Arnold Donald holds

28
38
the world's largest cruise
Fleet on a colossal course. Por-
8 DEUTSCHE BANK legal basis
ronnen: Madeleine enters an intrepid one
follower of the Jewish family
Schickedanz seafarer.
Wertheim are suing the institute
does to three billion dollars. 44 THYSSENKRUPP The small and small
Strategy from CEO
11 DEUTSCHE BAHN Supervisory Board
Hiesinger failed.
Chef Utz-Hellmuth Felcht
acts as powerless as unsuccessful. 48 REWE Alain Caparros about
his brutal appearance
12 ROCKET INTERNET Like Oliver
Kaiser’s Tengelmann and that
Samwer his master in
Race head-to-head
India found.
his successor.

38
13 BITBURGER This is what the brewery wants
52 LOOK OUT ... Ines Zenke,
Give up football sponsorship.
the lawyer for the energy transition.
14 ETIHAD / AIR BERLIN The Sheikhs On a large scale
Ride: Carnival- 54 DELIVERY HERO The world's largest
demote CEO James Hogan Chef Arnold Meal Delivery Service to
PHOTOS: PINGHUNG CHEN / EYEEM / GETTY IMAGES, PAUL SAKUMA / AP / PICTURE-ALIANCE, FRANK ZAURITZ, MARIA LANKINA

to the breakfast director. Donald


on the stock exchange this year. are
15 TCHIBO The new head barista Berliners good enough for it?
Thomas Linemayr surprised
58 INSURTECH Digitization
with growth plans.
reaches the insurance industry - with
15 SCHWÄBISCH HALL During the construction - full force.
sparprimus is no stone
62 CONSTANTIN In the media group
on the other.
a male feud rages. Has
16 LINDE job cuts the tender fanatic and big
before the merger - only for the stationary Bernhard Burgener one
Leadership cadre not. Chance against Dieter Hahn?
17 GERHARD CROMME The Siemens 65 LEADERSHIP CERTIFICATE Thomas
The chief inspector tingles as Sattelberger is annoyed
Money collectors across the country. CEOs who are a fundamental
demand income for everyone.
18 CONERGY The solar company will
settled a second time. 66 GEELY / VOLVO After the renovation
the Swedish car
19 THE ECONOMY OF ... THE PRICE OF OIL.
The Chinese grow an icon
Why the raw material ff on
a second Volkswagen
Duration remains affordable.
Group.

4 manager magazin F E B R U A R 2 0 1 7
Cover topics are highlighted in blue
FA L S C H E V O R B I L D E R
This also applies to the Apple boss
Tim Cook page 84

TRENDS 112 OUT OF OFFICE Old rap masters


Smudo about the value
his brand, Thermomix and
Daughters.
72 TRUMPONOMICS The new one
US President is on fast 114 STYLE A lovable iPhone
economic successes. Cover, a brisk convertible and
A regime change that comes with a travel safe to go.
Boom or disaster
115 STYLE COUNCIL Floris van

78
can flow.
MAGIC SQUARE Henrik
98
Frankfurter
Bommel defies reason
of age.
Müller draws a parallel society: hip
116 EVENING IN ... “Kulm Country
between 1914 and 2017. instead of stiff
Club ”in St. Moritz
80 ARTIFICIAL INTELLIGENCE Amazon by Sir Norman Foster.
and Google are building the web
gear via voice control: the 72nd
Narcissist im
116 IN THE TRAINING CAMP WITH ...
Andreas Rüter, Germany-
Reinvention of the Internet.
White House: Head of AlixPartners.
84 ROLE MODELS The acclaimed en- Delivers Nixon the
economic blue- 117 BOOK "The Upstarts" by Brad
Silicon Valley entrepreneurs pause for Trump? Stone dissected the rise of
are not suitable as a role model.
Uber and Airbnb.
89 GUEST ARTICLE BASF-Grande
Jürgen Hambrecht calculates RUBRIKEN
with Merkel's policy.

PORTFOLIO 3 Editorial
6 company and person registers

PHOTOS: [M] CHRISTOPH DERNBACH / DPA / PICTURE-ALLIANCE, LOTTERMANN AND FUENTES, SVEN SIMON, NICK HARVEY / REX / ACTION PRESS
90 INFRASTRUCTURE In Asphalt, 120 Imprint
Concrete, electricity and cable networks
122 WHAT ACTUALLY DOES ...
A lot of government money flows in.
Bionade founder Peter
A feast for investors.
Kowalsky?
96 INVESTMENT FOR HEDONISTS ...
The incentive to return less often
Cars.
96 ... AND FOR HEAD PEOPLE The
Hybrid bond from Lanxess.

LIFE
D A S D I G I TA L E H E F T manager magazin

108
you can also click on any
Read end device: optimized for iPad,
98 FRANKFURT Forget the bankers. iPhone, Android, Windows and Kindle
Powerful fashion: Fire and as a web app for PC / Mac.
Jewish hipsters kiss the Natalie Massenet More information:
City awake. (l.) and Anna www.manager-magazin.de/digital
Wintour
107 EXIT WITH ... the master
piece edition of the Kia Sorento.
108 LUXURY INDUSTRY Net-A-Porter
was her greatest success - and
their greatest defeat. Now
is Natalie Massenet again
back.

F E B R U A R 2 0 1 7 manager magazine 5
REGISTER
COMPANIES
Goldman Sachs
Google
90, 104
26, 60, 76, 82, 86
Rocket Internet
Royal Caribbean
12, 55, 86
40
Bornschein, Christoph
Börtemark, Bo
83
94
Hopp, Dietmar
Horbury, Peter
86
70
P
Greentech 18 Rütinvest 18 Brandt, Werner 106 Page, Larry 86
Horstmann, Uwe 86
RWE 18 Bruch, Christian 16 Petry, Frauke 85
Hufeld, Felix 106
H Bruchhagen, Heribert 104 Pichai, Sundar 82
Harman Kardon 82 S Brynjolfsson, Erik 65 J Piëch, Ferdinand
Pofalla, Ronald
68
11
1 handle
Here
46
82
Sal. Oppenheim
Salzgitter
28, 103
47
Bubis, Ignatz
Büchele, Wolfgang
106
16
Jain, Anshu
James, Harold
10
78
Pohlmann, Markus 87
1. FC Köln 50 Highlight Communications 62 Samsung 82 Buchmann, Josef 106 Porter, Brook 24
Janssen, Friedrich Carl 31
A HKP Group
Huawei
11
60
Sany
SAP
71
65, 86, 106
Bühler, Wolfgang
Burgener, Bernhard
33
62
Jeske, Jürgen
Johnson, Boris
104
85
Q
A. T. Kearney 69 Hubbell 95 Scania 68 Burns, Arthur 77 Quandt, Stefan 103
AB-Inbev 13 Jones, Quincy 41
HUK Coburg 61 Schwäbisch Hall 15 Busquets, Carmen 110
Acuity Brands 95 Hungryhouse 55 Shell 19
Joussen, Friedrich 44
R.
Air Berlin 14 Siemens 17, 44, 65 C Juncker, Jean-Claude 92
Raettig, Katherine 103
Airbnb 61, 85, 117 I Simplesurance 60 Caparros, Alain 48
Jungwirth, Johann 27
Raettig, Lutz 103
K
Airbus 44 IBM 71 Sino-Thai Engineering 94 Carnegie, Andrew 86 Rajkumar, Raj 25
Alibaba 61 Impala 90 Škoda 67 Chesky, Brian 86 Reich, Robert 65
Alitalia 14 Kalanick, Travis 57, 86
Innovalue 61 Sky 64 Clinton, Bill 65, 74 Källenius, Ola 23 Reischl, Hans 50
Alix Partners 16, 116 Investcorp 33 Slice Labs 61 Conrad, Markus 15 Reithofer, Norbert 17
Allianz 17, 59 Kalmbach, Ralf 69
Ivona 81 Snapchat 86 Conradi, Erwin 51 Reitzle, Wolfgang 16
Amazon 22, 57, 81, 85, 117 Kaminska, Magdalena 81
Snapdeal 12 Cook, Tim 22, 86 Riebel, Sven 103
Andritz
Antoni
95
86
J SolarCity 23 Cremer, Rolf D. 86
Kefer, Volker
Keith, David
11
25 Rieß, Markus 60
J. Kumar Infraprojects 95 SpaceX 23, 86 Cromme, Gerhard 17, 46 Ritter, Daniel 106
APG 90 J. P. Morgan 87 Sparkasse KölnBonn 32 Cryan, John 10, 34, 103 Kengeter, Carsten 103
Apple 22, 36, 60, 76, 82, 86 Kerkhoff, Guido 46 Ritter, Martin
Jabong Group 12 Springer & Jacoby 86
D.
Aral 51 Khedira, Sami 13 Rive, Lyndon 24
Just Eat 55 Stahl Automotive Consulting 68 Rive, Peter 24
Aramco 19 Standard & Poor’s 26 Dahm, Axel 13 Kirsch, Manuel 122
Arcandor
ArcelorMittal
30
47
K Standard Oil Company 88 Dalio, Ray 76 Kirsch, Wolfgang
Kleber, Ralf
103
82
Robens, Bjorn
Rogoff, Kenneth
104
75
Kaiser’s Tengelmann 48, 52 Strategy & 16 Dames, Julian 57 Rose, Rüdiger Freiherr von 104
AS + P 101 Karstadt 50 Swiss Re 59 Danielson, Lars 70 Klein, Reinhard 15
Assurant 60 Kogel, Fred 64 Rosen, Micky 104
Katara Hospitality 103 Davies, Gavyn 90
AT&T
Audi
36
22, 67, 75
Kawa Capital T Dawson, Jan 82 Kokott, Dietmar 86 Roth, Petra
Rupert, Johann
104
110
Management 18 T-Mobile US 36 de Pass, Andrew 18 Körber, Hans-Joachim 14
Axa 59 Korn, Daniel 106 Rüter, Hans-Martin 18
Kawa Solar Holdings 18 Takeaway.com 55 Demandt, Philipp 100 Ryan, Paul 76
B Kia 107 Talanx 58 Denoke, Georg 16 Korn, Moses 106
Bain 61
Kinnevik
Kion
12
71
Tata
TBF
47
95
Dibelius, Alexander
Diess, Herbert
104
22
Kornblum, John
Kowalsky, Peter
77
122 p
Bank of America 42 Kleiner Perkins 24 Tchibo 15 Dijkstra, Gert 90 Kowalsky, Sigrid 122 Saage, Gary 110
BASF 86 KlöCo 46 Team 62 Dill, Claus-Michael 59 Kowalsky, Stephan 122 Samuelsson, Håkan 68