Reece Bibby partners with Xiaomi
4 years ago
United Kingdom Theo Waigel is a German politician, renowned for his instrumental role in the introduction of the Euro and his tenure as Federal Minister of Finance, offering profound insights into European economic integration and political leadership.
Served as Honorary Consul.
Member of the Supervisory Board.
Member of the Board of Directors. Approved by the Combined Meeting of Accor Shareholders.
Member of the Advisory Board.
Deputy Chairman of the Supervisory Board.
Member of the European Advisory Board.
Chairman of the Advisory Board.
Member of the European Advisory Board.
Member of the European Advisory Board.
Member of the Advisory Board.
Member of the Supervisory Board (since 2007).
Member of the Advisory Board.
Served as an outside corporate monitor for four years (2009-2012) following Foreign Corrupt Practices Act violations. He was the first compliance monitor who is not a U.S. national.
Served as a member of the Board of Trustees in 2011.
Joined a newly established external advisory panel in 2012, to review compensation and governance at the company.
Appointed to an Independent Compliance Review Panel (ICRP) in 2017, amid investigations by the Serious Fraud Office (SFO) and the Parquet national financier (PNF) into allegations of fraud, bribery and corruption.
Appointed to co-chair an independent expert commission in 2021 to assess its involvement in the Wirecard scandal.
Theodor Waigel, born on April 22, 1939, in Ursberg, Bavaria, embarked on a distinguished career in German politics. A qualified lawyer, he earned his doctorate in 1967. His political journey commenced with his election as a Member of the Bundestag for Neu-Ulm in 1972, a position he held until 2002. His early parliamentary roles included serving as the CDU/CSU parliamentary group’s spokesperson on economic affairs from 1980 to 1982, and subsequently as deputy chairman of the group until 1989. These foundational years in the Bundestag equipped him with a deep understanding of economic policy and parliamentary processes, preparing him for higher political office.
Waigel’s career reached a significant turning point in 1989 when he was appointed Federal Minister of Finance in Chancellor Helmut Kohl’s Cabinet, a role he maintained until 1998. During this pivotal period, he played a crucial role in Germany’s reunification, overseeing the economic integration of East Germany and managing the substantial financial challenges associated with it. This involved implementing austerity measures and significant tax increases to fund the rebuilding of the East and maintain fiscal stability. His leadership was particularly notable in the push for European monetary union, where he is widely recognized as the “father of the Euro.” He championed the new currency, ensuring its stability and laying the groundwork for its successful introduction across Europe by advocating for strict fiscal benchmarks and proposing the name “Euro” itself.
After concluding his governmental role, Waigel remained active, serving as Chairman of the Christian Social Union in Bavaria from 1988 to 1999, and later as Honorary Chairman from 2009. His post-political career includes involvement with several advisory boards for major companies such as Accor, Alcatel, and Siemens, where he served as an independent compliance monitor from 2009 to 2012. He also held positions on the Supervisory Board of AachenMünchener Lebensversicherung AG and Bayerische Gewerbebau AG, and on the Board of Trustees for various academic and cultural institutions. His continued engagement underscores his lasting influence in both political and economic spheres.
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