Juergen M. Geissinger

Quick Facts

Full Name	Juergen M. Geissinger
Occupation	Businessperson
Date Of Birth	Jul 24, 1959(1959-07-24)
Age	65
Country	Germany
Birth City	Schwäbisch Gmünd
Horoscope	Cancer

Juergen M. Geissinger Biography

Juergen M. Geissinger is one of the most popular and richest Businessperson who was born on July 24, 1959 in Schwäbisch Gmünd, Germany. Jurgen Geissinger, also known as M. Geissinger (born July 24 1959) is a German technology business executive who is also the Chief Executive Director at Senvion S.A., a Hamburg Wind turbine maker with its headquarters in Hamburg. Geissinger is most well-known for his position as Chief Executive Officer of Schaeffler Technologies AG & Co. KG the technology conglomerate that is known as a leader in bearing technology as well as precision components for transmission and engine systems for automotive and aerospace and industrial applications. In Geissinger’s time as CEO the company’s annual revenues have increased over five times. Schaeffler AG, employing over 76,000 employees across 180 sites across 50 countries, and annual sales of 14 billion dollars it is also the largest shareholders of Continental AG with 49.9% of its shares.

In 2001, Geissinger successfully initiated a hostile takeover bid for charge of publicly traded FAG Kugelfischer AG. FAG was later delisted and was merged in Schaeffler KG. This was the very first acquisition of a publicly company listed on the MDAX firm by a privately owned company , and it was later removed by the FTC after a thorough investigation of anticompetitive consequences. Under the direction of Geissinger, INA together with FAG became the second-largest manufacturer of precision rolling bearings in the world.

In 2008 Geissinger and Maria-Elisabeth Schaeffler set their sights on Continental AG, the prestigious automotive supplier with three times the revenue of Schaeffler. Also frequently referred to as ‘Conti’, Continental AG is a leading German auto and truck parts manufacturing company specializing in tires, brake systems, vehicle stability control systems, engine injection systems, tachographs, and other parts for the automotive and transportation industries. Continental had acquired ITT’s electronic brakes systems in 1998, the division Geißinger once oversaw. However, it was Continental’s acquisition of Siemens’ VDO automotive unit in 2007 for €11.4 billion that appeared to overextend Continental as it lost almost half of its market capitalization following that acquisition.

Labor unions have labeled Geissinger a tough negotiator for saving costs. The German business magazine Capital portrayed him as a “comeback kid” after he overcame the challenge posed by the difficult takeover maneuver in 2008 of Continental AG that found itself in peril once Lehman Brothers collapsed and global financial markets were sent into turmoil. He holds a doctorate in engineering from the Fraunhofer Institute.

In 2000, Geissinger managed his first merger through the purchase from the remainder 50 percent of the clutch maker LuK which was created by Georg Schaeffler and his brother Wilhelm Schaeffler.

Juergen M. Geissinger Net Worth

Juergen M. Geissinger is one of the richest Businessperson from Germany. According to our analysis, Wikipedia, Forbes & Business Insider, Juergen M. Geissinger 's net worth $5 Million. (Last Update: December 11, 2023)

After a brief time with Heidelberger Druckmaschinen, Geissinger joined the ITT Corporation in Auburn Hills, Michigan, in 1992 working in various roles in ITT Automotive. Geissinger quickly rose up the ranks after first directing the manufacturing technology of brake systems. In 1997 Geissinger appointed CEO of ITT Industries Europe and responsible for global technology for brakes and chassis in ITT Automotive Industries in White Plains, New York.

In the same year that Schaeffler began businesses within China at the time of

1995. Geissinger increased its presence and is currently employing five thousand workers in seven manufacturing facilities and offices. In the course of a visit to the Chinese Minister for Science and Technology Prof. Wan Gang, Geissinger said, “In view of the growing demand from the Chinese vehicle industry for innovative suppliers, Minister Wan Gang’s visit is a signal for the future. Our systems expertise in electric mobility makes our company an active partner in the shaping of this sector.”

Geissinger and Maria-Elisabeth Schaeffler saw the opportunity before them and convinced a consortium of banks to join them in their effort to acquire a dominant stake in the publicly listed Continental. By August 2008, following months of fighting off Schaeffler’s advances, Continental agreed to be taken over by the family-owned auto parts manufacturer Schaeffler AG and a consortium of banks in a deal valuing the company at €12 billion. When Continental agreed to end the standoff and allow its smaller rival Schaeffler to buy up to half of the company, it paved the way for Geissinger to build the third-largest automotive supplier in the world (after Bosch and Denso Group). Schaeffler pledged to restrict its stake in the company to less than 50% for at least four years, so as to reduce concerns about immediate turnover of controlling interest to such a smaller buyer.

Height, Weight & Body Measurements

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Who is Juergen M. Geissinger Dating?

According to our records, Juergen M. Geissinger is possibily single & has not been previously engaged. As of December 1, 2023, Juergen M. Geissinger’s is not dating anyone.

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Facts & Trivia

Juergen Ranked on the list of most popular Businessperson. Also ranked in the elit list of famous people born in Germany. Juergen M. Geissinger celebrates birthday on July 24 of every year.