Billions of dollars worth of debt – Baywa crisis is imminent: CEO and CFO leave the agricultural giant

The supervisory board of Munich conglomerate BayWa, which is mired in billions of dollars in debt draws personnel consequences in the executive ranks: CEO Marcus Pöllinger will vacate his post at the end of the month, the company announced. Chief Financial Officer Andreas Helber will also quit on March 31 next year. In both cases, the departures were peaceful, according to the supervisory board.

There is no replacement yet; the process to fill these two top positions has begun, according to the announcement. Management consultant Michael Baur, who – previously a general representative – has held a key position for several weeks, will now officially join the board.

Baywa’s supervisory board wants a fresh start without top management

Baywa is Germany’s largest agricultural trader and therefore plays an important role in agriculture and food supply, especially in southern and eastern Germany. Baywa inspectors, led by experienced cooperative banker Gregor Scheller, made it clear that they also wanted to see a fresh start in terms of personnel. Pöllinger has been a member of Baywa’s board since 2019. However, he has only been CEO for a year and a half, supported by his predecessor, Klaus Josef Lutz. On the one hand, the management has built a new renewable energy business area and, on the other hand, expanded Baywa’s agricultural business throughout the world. .F100_SINGLE_MULTI_CHART .F100_POSITIVE,.F100_SINGLE_MULTI_CHART .F100_TREND_POSITIVE range {color:#51a706;}.F100_SINGLE_MULTI_CHART .F100_NEGATIVE,.F100_SINGLE_MULTI_CHART .F100 _ TREND_NEGATIVE range {color:#d61216;}.F100_SINGLE_MULTI_CHART .F100_HEADLINE {width:100%;margin:30px 0 20px ; float:left;}.F100_SINGLE_MULTI_CHART .F100_CURRENCY {font-weight:normal;color:#999;margin-right:10 pixels;}.F100_SINGLE_MULTI_CHART .F100_TRADING_VENUE {font-size:14 pixels;font-weight:normal;color:#999 ; }.F100_SINGLE_MULTI_CHART .F100_ARROW {display: inline;}.F100_SINGLE_MULTI_CHART .F100_ARROW svg {width:15 pixels; height:15 pixels; svg {content:#51a706;transform:rotate(315deg }.F100_SINGLE_MULTI_CHART .F100_TREND_NEGATIVE svg {content:#d61216;transform:rotate(45deg);}.F100_SINGLE_MULTI_CHART .F100_CHART_CONTAINER {margin:20px 0px; padding:0px 20px;}.F100_SINGLE_ M ULTI_CHART {color:#333;top border :0.125rem solid #E0E0E0;border-bottom:0.125rem solid #E0E0E0;}.F100_SINGLE_MULTI_CHART .F100_KURSDATEN_BUTTON {rowheight:18px;text-align:center;margin-bottom:30px; }.F100_SINGLE_MULTI_CHART .F100_SHARE_STATU S {border er- top:1px solid #e0e0e0;display:inline-block;font-size:18px;padding-top:10px;}.F100_SINGLE_MULTI_CHART .F100_SHARE_STATUS .F100_SHARE_STATUS_RIGHT,.F1 00_SINGLE_MULTI_CHART .F100_SHARE_STATUS span:child first {display: inline;: bold;} .f100_single_multi_chart .f100_navigation_tabs {border-bottom: 0.125rem solid#ee001c; clear: both; margin-top: 20px; textblock. 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The company is currently owed more than five billion euros in long- and short-term financial obligations, largely due to loan-financed expansion during the Lutz era. CFO Helber has served since 2010. The separation date in March 2025 indicates that the preparation of the 2024 consolidated balance sheet is still under Helber’s direction.

Consortium credit is debited

In 2023 and also the first half of 2024, Baywa posted losses in the three-digit million range. The big challenge ahead is the expiry of the syndicated loan term of up to two billion euros in September 2025. About half of the high financial debt is short-term liabilities, as can be seen in the group’s financial statements. In this case, the company needs liquid funds from banks.

Baywa’s main shareholders are affiliated companies of cooperative banks in Bavaria and Austria. They have agreed with Baywa’s board of directors and creditor banks on a financial injection in the three-digit million range, but restructuring the company will probably take years – as the company itself announced a few weeks ago. It was generally expected that after the expansion of the Lutz era, Baywa would now sell part of the company and thus become even smaller.

Former CEO Lutz criticized

Many shareholders see Lutz – as President of the Bavarian Chamber of Commerce and Industry, one of the most prominent association officials in the Bavarian economy – as the main person in charge. Therefore, a number of shareholders expressed their anger towards Pöllinger’s predecessor at the June general meeting. Lutz moved directly from Baywa’s board to chairman of the supervisory board in spring 2023, but resigned several months later amid disagreements. In this case, the manager at Baywa is now abandoned. Lutz has faced criticism in the “Süddeutsche Zeitung”

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