Transcripts For DW Business 20190522

Come to do the business i want to get good to have you with us and done the c. E. O. Details such as stepping down for more than a decade the man with the bushy gray walrus most of the comic us through highs and lows from an unhappy merger with chrysler to record sales and a rejuvenated brand so heres a look now back at some of the defining moments of the era. Ditto at such it took the helm a time guy in 2006 his mission to clean up the mess left behind by his predecessor york in schlump he had called the merger with chrysler a match made in heaven but it turned pretty hellish for the stuttgart based carmaker losses during the chrysler years mounted into the billions. Such it was viewed as the right man at the right time for a fresh start after all hed been through many a crisis with tyler and his many years with the Company Including in the mid ninetys the spectacularly failed trial known as the moose test set got to work out a minus the important components that made significant improvements to the a class. After the chrysler acquisition such as spend 5 years polishing the battered american subsidiaries image he even managed to lead the brand into the black for a short period in the u. S. Again notoriety as dr z. And even made appearances in commercials if i played with the spanish there is only one example that smalling for better performance and handling cool. When he took over diamond such a focused on producing high end cars and trucks and 2016 mercedes once again beat out audi and b. M. W. For the title of largest premium manufacturer on the planet. But then the emissions scandal hit and search i came under pressure in may of 2018 he was called in by the German Transport Ministry in the end it ordered the recall of almost 240000 die in their vehicles because they were allegedly equipped with illegal Cheating Software to defeat emissions testing diners image was tarnished again and critics also accused her of investing too little and emo belittle and too late yet another key issue his successor now has to tackle a massive diesel is professor of Strategic Management at Lancaster University and i believe your research focuses on strategic renewal youve also worked in change management for some big corporates what impact did to. Have on. You know good morning so did the church clearly left an imprint. On dialogue thats for sure and if one would use a metaphor gardening metaphor it was a strategy of pruning and careful growing and youve already alluded to that in your introductory clip just now one of the biggest imprints of course was the divestment of the demerger of chrysler the merger from hell that cost the group really dearly so 1. 00 of his 1st task was to get rid of chrysler and with that also get rid of a for a in to the mass market car making and then a careful growing of the business in the luxury car segment today is 11 aspect of careful pruning in growing the other one is the divestment of airbus. So clearly another sign of focusing the group on look in the luxury car segment and after all this pruning is now a good time for that such a to step down. I think now its perfect time to step down maybe well its always up for debate when when its the perfect time to for a successor to come in but definitely now is the time to do that i think when it touches started. Well its leadership of. In 2060007 the car industry was in quite a different shape at least back then we all agreed with the car wars we all agreed with the luxury segment looked like and we all agreed with competition but like i think all of these questions now need to be answered afresh im not quite sure we do have good answers for the question who will achieve the next 5 to 10 years actually looks like so we need fresh ideas and for that we need fresh leadership and for that think. Time is really no no well the such a success kalandia maybe has the answer is reportedly is a strong advocate of plug in hybrids he caused he also has a cost cutting a program in place reports 20 percent in administrations will be cuts down in order to make open up potential for investment in new technologies while investors and will die must follow suit. So clearly as hes a dime a veteran he knows the Company Inside out hes been on the board since 2015 and as you just said hes been leading a Cost Cutting Program called move for the last 3 years in order to bring cost of development and go to market down that will give him the momentum to launch into the necessary changes at the company and particularly around him ability so he has been an advocate of the electrification of the fleet for a while so he clearly is the right candidate so how is the market responding to that to be honest with you at the moment markets are a bit ambivalent where diamond is going if we look at Analyst Reports right now. There is no common picture. Recommendations we have hold recommendation we have buy recommendation so its very its not clear at all how the market develops the future hell have to do some work in order to can convince investors and the industry much in fees or there from Lancaster University thank you so much thank you. And heres some of the business stories making news to manufacturers and retailers in the u. S. Have asked president thomas trump to remove footwear from a list of proposed tariffs on goods imported from china they said the move would be catastrophic for consumers and the economy as a whole last year the u. S. Imported over 11000000000. 00 worth of chinese made footwear. China is the airlines has requested compensation from boeing for the 2 month grounding of its 737 max aircraft the chinese carrier has delayed deliveries of future planes the boeing 737 max was grounded worldwide in mid march after 2 crashes in october and march killed 346 people china eastern has 14 boeing 737 max jets including those in its Shanghai Airlines unit. The government has proposed to do what it can to support British Steel the u. K. s 2nd biggest steelmaker is believed to be on the verge of going bust with 5000 jobs directly address it has asked the government for emergency funds to deal with what it called brecks and related issues. After the failed merger with Deutsche Bank a month ago the c. E. O. Of german commands bond is facing a heated Shareholders Meeting in d. C. Today investors are unhappy with the performance of the bank the stock has lost around 40 percent since 2018 come out bank to be bailed out by german taxpayers during the financial crisis and its still hard to nationalize. And for more lets cross over to our Financial Market correspondent. In a frankfurt so whats the mood in frankfurt in the area and the Banking Sector as a whole now just ahead of the shareholder meeting. Well more in the mood in frankfurt right now and specifically in the spot where the meeting is held is not asked bad as you would imagine because Commerce Bank had a year has a year behind it that wasnt terrible at least it made a profit and its paying out a dividend to investors for the 1st time in many years but of course looking into the long term theres a lot of questions and people are quite worried especially after those merger talks with george bank failed the question is how can Commerce Bank possibly survive globally especially alone they probably cant is what many many experts in the Financial Markets are saying who can take it over theres quite a lot of candidates they are very likely is what a lot of people say is that dutch banking giant i n g might be taking over at some point and definitely the bank has already said that theyre interested in that another suitor would be at least we can get it but it is unlikely actually that thats a good idea and that even the German Government to us we heard part of commerce about would be behind such a deal because it is considered quite risky because when he cut its just like come out spunk holds a lot of italian debt so there could be a lot more problems rising up there and is a foreign takeover the only way forward for comments by well it is a somewhat likely way until that happens of course the bank is standing alone and they have to see what they can do to improve their performance so one thing of course is digitalisation the bank is talking a lot about how to get better in digital ways and the other thing thats also discussed on the agenda today is cost cutting cost cutting cost cutting and one thing that theyre doing were actually seeing right today with the bank having their annual Shareholders Meeting actually invest in a much smaller and cheaper location than they usually had near they had quarters in frankfurt at last on to the 3rd thank you so much. British celebrity chef jamie oliver has announced the collapse of his Restaurant Group over a 1000 jobs are at risk oliver says that hes sad about the expected closure of 25. 00 sites and he blames stiff competition in rising costs he was the man who made british cuisine sexy. Jamie olivers informal approach to good food made him world famous and phenomenally successful it enabled him to open his own restaurant chain in the u. K. In 2008 with dozens of outlets popping up across the country. Today all but 3 of those have closed as a result of what was described by administrators clear p. M. G. As a very difficult Current Trading environment. The writing has been on the wall for some time the celebrity chef began tossing down struggling restaurants back in 2017 and last year named briggs as the reason for closing 6 of them saying rising food and stuff and costs as well as a weakening pound were posing challenges up to 1000 jobs are now at risk trade Union Representative say that while restaurants are not helped by the current Economic Uncertainty businesses that expanded rapidly like all of us did are the ones most in danger of going on. Its got a bit of rust the interior has seen better days that smells a little bit like musty old folks live and beetle but so the bees expect the very 1st forces for its car made it will bring in at least 15000000. 00 at auction the type 64. 00 was built in 1000. 00 the 39. 00 for a race between berlin and rome that never took place due to the outbreak of world war 2 it goes on option in california and sed. And that is business on d. W. For me in the team thanks for watching. Earth. For saving google genius tell stories of creative people and innovative projects around the world. Protect the climate and boost green energy solutions. The new series of global 3000 on d w and online. Germanys. Constitution the 17th. Does not fall into the german. This. Is. Welcome to the. Culture and this city lin is the subject of an intriguing new d. W. Project that will be showing here also coming up to rome and how one writer sees italys current migration crisis to its colonial past. And a couple of intrepid graffiti artist painting walls for peace around the world. But we begin with a new initiative from our lifestyle and culture magazine youre a max cold planet in this city is incredibly culturally diverse thats why i like it and its full of people like me from all over the world so planet vote in is a tourist guide with a difference features people from around the globe whove made this town their home and their personal recommendations for places to go in the german capital. Has not been the capital of cool. A movement for creation from around the world. Is a multimedia project that tells the story of those who came to the german capital to do. Stories of entrepreneurship and courage those featured also gave their own insider tips for the citys best restaurants clubs and gallery