Edzard Reuter
Encyclopedia
Edzard Reuter was the CEO of Daimler-Benz
from 1987 to 1995.
Edzard Reuter was born in Berlin
, his father was the popular social democratic politician and mayor of Berlin
from 1948 to 1953, Ernst Reuter
. His mother Hanna Reuter née Kleinert was a secretary at the party newspaper Vorwärts
. After the Machtergreifung
of the NSDAP, the family was forced to flee Germany
and they found exile
in Ankara
, Turkey
. So Reuter spent much of his childhood in Turkey. In 1946, Edzard joined the Social Democratic Party of Germany
(SPD).
After returning to Germany in 1947, Edzard Reuter studied mathematics
and theoretical physics
at the University of Berlin (now known as Humboldt University of Berlin
), later transferring to the Georg August University of Göttingen. In 1949, he switched over to studying law
at the newly founded Free University of Berlin
. In 1955, Reuter completed his state examinations. From 1954 to 1956, he was an assistant at the university. After applying for a job for Daimler-Benz and failing, Edzard Reuter became confidential clerk for UFA
, the German film studio and then an executive for the Bertelsmann
, a media corporation.
In 1964, Hanns Martin Schleyer
recruited Reuter to work at the Daimler-Benz headquarters in Stuttgart
, where he advance all the way to the board of managers. In July 1987, he succeeded Werner Breitschwerdt as chairman of the board upon recommendation of Alfred Herrhausen
. Upon his assumption of office Reuter avowed himself to an "open" corporate culture. The way he exercised his functions was criticized by many including the stock jurist Ekkehard Wenger.
In May 1995, Reuter was succeeded by Jürgen E. Schrempp
, who gave up his predecessor's business philosophy choosing instead to emphasize shareholder value
. In August 1994, Reuter mentioned himself as a possible candidate for mayor of Berlin, but none of the parties went on to show interest. In 1998, Edzard Reuter became an honorary citizen of Berlin, especially for his dedication for the expansion of the Potsdamer Platz
.
Daimler-Benz
Daimler-Benz AG was a German manufacturer of automobiles, motor vehicles, and internal combustion engines; founded in 1926. An Agreement of Mutual Interest - which was valid until year 2000 - was signed on 1 May 1924 between Karl Benz's Benz & Cie., and Daimler Motoren Gesellschaft, which had...
from 1987 to 1995.
Edzard Reuter was born in Berlin
Berlin
Berlin is the capital city of Germany and is one of the 16 states of Germany. With a population of 3.45 million people, Berlin is Germany's largest city. It is the second most populous city proper and the seventh most populous urban area in the European Union...
, his father was the popular social democratic politician and mayor of Berlin
Berlin
Berlin is the capital city of Germany and is one of the 16 states of Germany. With a population of 3.45 million people, Berlin is Germany's largest city. It is the second most populous city proper and the seventh most populous urban area in the European Union...
from 1948 to 1953, Ernst Reuter
Ernst Reuter
Ernst Rudolf Johannes Reuter was the German mayor of West Berlin from 1948 to 1953, during the time of the Cold War.- Early years :...
. His mother Hanna Reuter née Kleinert was a secretary at the party newspaper Vorwärts
Vorwärts
Vorwärts was the central organ of the Social Democratic Party of Germany published daily in Berlin from 1891 to 1933 by decision of the party's Halle Congress, as the successor of Berliner Volksblatt, founded in 1884....
. After the Machtergreifung
Machtergreifung
Machtergreifung is a German word meaning "seizure of power". It is normally used specifically to refer to the Nazi takeover of power in the democratic Weimar Republic on 30 January 1933, the day Hitler was sworn in as Chancellor of Germany, turning it into the Nazi German dictatorship.-Term:The...
of the NSDAP, the family was forced to flee Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
and they found exile
Exile
Exile means to be away from one's home , while either being explicitly refused permission to return and/or being threatened with imprisonment or death upon return...
in Ankara
Ankara
Ankara is the capital of Turkey and the country's second largest city after Istanbul. The city has a mean elevation of , and as of 2010 the metropolitan area in the entire Ankara Province had a population of 4.4 million....
, Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
. So Reuter spent much of his childhood in Turkey. In 1946, Edzard joined the Social Democratic Party of Germany
Social Democratic Party of Germany
The Social Democratic Party of Germany is a social-democratic political party in Germany...
(SPD).
After returning to Germany in 1947, Edzard Reuter studied mathematics
Mathematics
Mathematics is the study of quantity, space, structure, and change. Mathematicians seek out patterns and formulate new conjectures. Mathematicians resolve the truth or falsity of conjectures by mathematical proofs, which are arguments sufficient to convince other mathematicians of their validity...
and theoretical physics
Theoretical physics
Theoretical physics is a branch of physics which employs mathematical models and abstractions of physics to rationalize, explain and predict natural phenomena...
at the University of Berlin (now known as Humboldt University of Berlin
Humboldt University of Berlin
The Humboldt University of Berlin is Berlin's oldest university, founded in 1810 as the University of Berlin by the liberal Prussian educational reformer and linguist Wilhelm von Humboldt, whose university model has strongly influenced other European and Western universities...
), later transferring to the Georg August University of Göttingen. In 1949, he switched over to studying law
Law
Law is a system of rules and guidelines which are enforced through social institutions to govern behavior, wherever possible. It shapes politics, economics and society in numerous ways and serves as a social mediator of relations between people. Contract law regulates everything from buying a bus...
at the newly founded Free University of Berlin
Free University of Berlin
Freie Universität Berlin is one of the leading and most prestigious research universities in Germany and continental Europe. It distinguishes itself through its modern and international character. It is the largest of the four universities in Berlin. Research at the university is focused on the...
. In 1955, Reuter completed his state examinations. From 1954 to 1956, he was an assistant at the university. After applying for a job for Daimler-Benz and failing, Edzard Reuter became confidential clerk for UFA
Universum Film AG
Universum Film AG, better known as UFA or Ufa, is a film company that was the principal film studio in Germany, home of the German film industry during the Weimar Republic and through World War II, and a major force in world cinema from 1917 to 1945...
, the German film studio and then an executive for the Bertelsmann
Bertelsmann
Bertelsmann AG is a multinational media corporation founded in 1835, based in Gütersloh, Germany. The company operates in 63 countries and employs 102,983 workers , which makes it the most international media corporation in the world. In 2008 the company reported a €16.118 billion consolidated...
, a media corporation.
In 1964, Hanns Martin Schleyer
Hanns Martin Schleyer
Hanns-Martin Schleyer was an SS officer, a German business executive and employer and industry representative, serving as President of the two influential organizations Confederation of German Employers' Associations and Federation of German Industries...
recruited Reuter to work at the Daimler-Benz headquarters in Stuttgart
Stuttgart
Stuttgart is the capital of the state of Baden-Württemberg in southern Germany. The sixth-largest city in Germany, Stuttgart has a population of 600,038 while the metropolitan area has a population of 5.3 million ....
, where he advance all the way to the board of managers. In July 1987, he succeeded Werner Breitschwerdt as chairman of the board upon recommendation of Alfred Herrhausen
Alfred Herrhausen
Alfred Herrhausen was a German banker and Chairman of Deutsche Bank. From 1971 onwards he was a member of the bank's board of directors....
. Upon his assumption of office Reuter avowed himself to an "open" corporate culture. The way he exercised his functions was criticized by many including the stock jurist Ekkehard Wenger.
In May 1995, Reuter was succeeded by Jürgen E. Schrempp
Jürgen E. Schrempp
Jürgen Erich Schrempp was until December 31, 2005, the CEO of DaimlerChrysler, a German-American car and truck manufacturer. Following a decision of the board taken on July 28, 2005, he was succeeded on January 1, 2006, by Chrysler frontman Dieter Zetsche...
, who gave up his predecessor's business philosophy choosing instead to emphasize shareholder value
Shareholder value
Shareholder value is a business term, sometimes phrased as shareholder value maximization or as the shareholder value model, which implies that the ultimate measure of a company's success is the extent to which it enriches shareholders...
. In August 1994, Reuter mentioned himself as a possible candidate for mayor of Berlin, but none of the parties went on to show interest. In 1998, Edzard Reuter became an honorary citizen of Berlin, especially for his dedication for the expansion of the Potsdamer Platz
Potsdamer Platz
Potsdamer Platz is an important public square and traffic intersection in the centre of Berlin, Germany, lying about one kilometre south of the Brandenburg Gate and the Reichstag , and close to the southeast corner of the Tiergarten park...
.