GfK Dismisses Sale Rumour

GfK's majority owner GfK Verein has dismissed a report published in German weekly magazine WirtschaftsWoche, which claimed the company may be considering putting itself up for sale.

GfK has experience a 'troubled year', with disappointing first-half results reported at the beginning of last month; the departure of CEO Matthias Hartmann whose views on the group's long-term direction 'differ' from those of GfK Verein; and news that long-time Chairman Arno Mahlert is leaving the company, to be replaced by Ralf Klein-Bölting. Earlier in the year the firm also commenced civil proceedings against former CEO Klaus Wübbenhorst, and former CFO Christian Weller von Ahlefeld, to recover damages relating to tax irregularities in Turkey.

Last Thursday, WirtschaftsWoche suggested that Nielsen, IMS Health and Kantar were all 'interested' in buying GfK Verein's 56.5% share of the group. However, GfK Verein's President Hubert Weiler (pictured) has since rejected the report, saying in a statement that the executive and advisory boards would have to approve any plan for a sale, and adding firmly that 'they are not doing that'. In the statement, Weiler concluded: 'GfK Verein is backing GfK for the long run and will do everything possible to ensure the company returns to a sustainably successful path'.

Web site: www.gfk.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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