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Economics Grimm: A mandate at Siemens Energy causes trouble
Photo: Bernd von Jutrczenka / dpa
A serious conflict has arisen among the members of the Advisory Council for the Assessment of Overall Economic Development over a possible supervisory board mandate for energy expert Veronika Grimm at Siemens Energy AG. The remaining four of the so-called economic wise men asked Grimm in writing to leave the Advisory Council if she accepted a corresponding mandate from the energy technology group. Grimm rejected this demand.
“We would therefore like to ask you to decide on one of the two mandates if you are elected to the SEAG supervisory board,” quote the “Handelsblatt” and the “Table Media” portal from an email to Grimm, which was also sent to the head of the Chancellery, Wolfgang Schmidt , Finance Minister Christian Lindner (FDP) and Economics Minister Robert Habeck (Greens) went. The four remaining council members “agree that there are possible conflicts of interest in this constellation,” says the statement. These touched on the work of the Advisory Council in core areas: “The upcoming energy transformation is of outstanding economic and economic policy importance. Veronika Grimm’s expertise is therefore of great value in the council’s work.«
Grimm was appointed to the supervisory board of Siemens Energy in December and will be elected to the supervisory board at the company's general meeting on February 26th. She refuses to resign from her position on the Advisory Council. "As you know, membership on a supervisory board of a German stock corporation is not objectionable," she replied, according to the reports.
“This was always dealt with collegially and conscientiously in the council.”
Grimm told SPIEGEL that she had checked in advance with the Federal Ministry of Economics and the Chancellor's Office to see whether the supervisory board mandate was compatible with her role in the Advisory Council; they had no concerns whatsoever. In addition, Siemens Energy carried out its own compliance check on the issue. No problems were seen here either. She had already informed the other members of the committee about the planned mandate last year and offered a discussion - but there is no formal requirement for consent. Grimm says she is “astonished” by what has happened now. Members have also held supervisory board mandates in the past. “This was always dealt with collegially and conscientiously in the council.”
The Council of Experts was founded in 1963 and regularly presents reports on overall economic development and is intended to make it easier for politicians and the public to make judgments. In addition to Grimm, the council includes members Achim Truger, Ulrike Malmendier, Martin Werding and Monika Schnitzer. Schnitzer is also chairwoman of the committee.
Conflicts regarding content are normal among economists - if only because of the different economic policy orientations of those involved. In the current line-up, Grimm and Werding represent more of an economically liberal attitude. Schnitzer, Malmendier and Truger, nominated by the unions, are less critical of state intervention. This time, at least on the surface, it is not about the economic policy direction, but rather about the question of independence.
A supervisory board mandate is legally permissible, said council chairwoman Schnitzer to the dpa news agency. However, Siemens Energy is a company that is very relevant to the energy transition and which the federal government has supported with a guarantee. »We are very worried that if Veronika Grimm has a dual mandate, we will no longer be perceived as an independent body when it comes to energy issues. We would like Ms. Grimm to choose one of the two mandates,” added Schnitzer.
Professor Malmendier, who teaches in Berkeley, California, told “Zeit”: “If we have to exclude Veronika from discussions about green hydrogen or wind energy in the future, that would be a catastrophe, that is her area of expertise. On the other hand, if she doesn't see the problem herself and says, no, you don't have to exclude me, we have an even bigger problem.
ih/dab/stk/Reuters/AFP/dpa