Cracking the Baywa Code: Michael Baur's Turnaround Tactics
Reliable Individual Identified: Michael Baur
Frankfurt-based restructuring whiz, Michael Baur, is the man Baywa tapped when they found themselves in a financial pickle. Known for swooping in when companies hit a rough patch, Baur, an Alix Partners alum, has been Baywa's Chief Restructuring Officer (CRO) since September. With the banks in his corner and a growth of responsibilities, Baur is steering the restructuring ship at Baywa.
Before donning the CRO hat, Baur was already coordinating the turnaround. The previous Baywa board, having lost creditor trust, announced the impending departures of CEO Marcus Pöllinger and CFO Andres Helber in mid-October. Baur stepped up, taking over some of the CEO's tasks and joining the board. The supervisory board chair, Gregor Scheller, expressed confidence in Baur's abilities back in September: "He's the right man for the job in this situation."
Delve into the nitty-gritty of Baywa's resurrection in our "Gorgeous New Economic World" turned-tables issue.
Michael Baur's influence extends beyond crisis management, shaping Baywa's future with strategic initiatives. In a quest to revitalize the agricultural trader, Baur has:
- Financing Concept Development: Leading the team to craft a fresh financing plan, targeting the critical financial needs of Baywa's subsidiaries, notably Baywa r.e., which required an additional €435 million.
- Securing Liquidity: Demonstrating the support of financial partners and major shareholders, Baur has facilitated the provision of additional liquidity, a vital boost for the ongoing transformation process.
- Implementation of Restructuring Measures: Guiding Baywa through challenging changes, Baur's plan includes workforce reductions and location closures totaling 1,300 full-time positions and multiple location shutdowns, with a focus on fortifying core businesses and improving efficiency.
Baywa's woes began with a decade of expansion fueled by credit, resulting in significant financial pressure. In 2024, the company reported a staggering €640 million net loss. As a seasoned troubleshooter, Baur's mission is to stabilize the company and restore financial health by 2028.
Michael Baur's pivotal role as Baywa's CRO is paramount in navigating these turbulent waters and securing a brighter future for the company.
Michael Baur, appointed as Baywa's Chief Restructuring Officer (CRO) in September, has been instrumental in the company's turnaround efforts, taking on some CEO responsibilities and securing financial support. He leads the development of a new financing concept for Baywa's subsidiaries, including Baywa r.e., and has secured additional liquidity from financial partners and major shareholders. Baur's restructuring plan includes workforce reductions and location closures, with a focus on fortifying core businesses and improving efficiency.
As a restructuring expert, Baur aims to stabilize Baywa and restore financial health by 2028. The company’s financial problems started with a decade of expansion fueled by credit, resulting in significant financial pressure. In 2024, Baywa reported a €640 million net loss. Baur's strategic initiatives, such as implementing restructuring measures and shaping the future of the company, are crucial for Baywa's resurrection, as detailed in our "Gorgeous New Economic World" turned-tables issue.
