Dear Colleagues,
2020 will go down in history as “the year of the global coronavirus pandemic”. We have all seen how quickly and profoundly a small virus can change our lives and the economy. In crisis situations like this in particular, a company’s strengths and the resilience of its economy also become apparent. During the coronavirus crisis, family-run businesses have proven particularly successful and have shown exemplary behavior. In part, this is due to flat management hierarchies and reduced red tape in family enterprises. But it is also crucially depends on the fact that family-run companies attach particular importance to the relationships with their employees. In a crisis, this special relationship becomes particularly evident: Everyone helps each other out! For example, if some employees have to stay with their small children because day care is closed, a family-run company is able to deal with this type of emergency more quickly and more generously than a large corporation that relies on red tape and formal processes. On the other hand, employees in a family-run company are also quick to help if there is a lack of staff. This special connection defines our company, and when considered alongside many other family-run companies, it’s no wonder our German family business structure is admired all around the world.
Particularly in a crisis, the Supervisory Board has to maintain close contact with the Executive Board, exchanging experiences in order to minimize unavoidable damage to the company. Bauerfeind has achieved this to an exemplary degree. The Executive Board has kept the members of the Supervisory Board constantly and comprehensively updated about the current situation in the company and consulted us in detail concerning the impact on our market and customer relations.
As we look back in “Seamless” at the year that is coming to an end, we can see that we were very quick to adopt all the necessary measures at Bauerfeind to prevent the spread of the virus both from the outside and within our company. As a result, compared with many other companies of similar sizes, we have managed to overcome the crisis with relatively few Covid-19 cases so far. This would not have been possible without your discipline and your willingness to comply with the measures over a very long period of time. The text and images that follow are another testament to your efforts!
On behalf of the Supervisory Board, I would like to thank you very much for your understanding and your help.
Stay safe and protect yourself and your colleagues!
Kind regards,
Prof. Rainer Kirchdörfer
Chairman of the Supervisory Board
About the expert:
Prof. Rainer Kirchdörfer is an attorney and partner at Hennerkes, Kirchdörfer & Lorz, a law firm in Stuttgart specializing in consulting family-run companies. He has been a member of the Executive Board at the Foundation for Family Businesses since 2012. The 62-year-old is a member of several supervisory boards at national and international companies. Prof. Kirchdörfer has been the Chairman of Bauerfeind AG’s Supervisory Board since it was established in 2003.