On the mode of remuneration the speech is very clearThe idea of rock which has a library of 1And it is paid by the signing of the bookWe already had the intention to privatizeTHE SOVEREIGN INTERESTby Frédéric LordonEdYoung people read less than their elders 45Then each President will bet on his personal equation This is not the business tax reform it addedInvolvement of the State in either activityAnd at a time when the market is very competitiveThe German insurer Allianz AG turns this Friday in "societas europaea" (SE). The change in status must be registered today at the trade register of Munich, where the headquarters of the group. The process took a little more than a year, Allianz announced a year ago already this mutation, at the same time it absorbed its Italian subsidiary, RAS. The German insurer becomes the first of the 50 companies listed on the DJ Euro Stoxx 50, the Pan-European stock market index, to adopt this new legal form put in place by the European Union in 2004.
For Allianz, this transformation is a simple media coup. "It will improve the competitiveness of the group with more flexible structures that will facilitate cross-border activities", insists on in Munich. It will also improve the information and consultation of the staff. Munich will in future continue to host the headquarters of the group. "But Allianz will lose a part of"germanité"and become even more European", says Paul Achleitner, its chief financial officer.
In the AGF, subsidiary 62.1 of the German group, the mutation is seen one good eye. "It is an extraordinary adventure," enthuses a leader of the French insurer. This will make life easier us to build common products between different European countries. The functioning of the group, with a more mobile capital between the subsidiaries will be overall more efficient. "However, even if the regulation of European societies provides a device for cross-border mergers, it is not sure that this speeds up the total takeover of the AGF. Before you buy the minority of its French subsidiary, Allianz must indeed pass the restructuring of its German activities and the integration of RAS.
"A blessing".
It was in May 2007 that the new entity Allianz SE will really start at the general meeting of the Group and the renewal of the Supervisory Board. It will include more than 12 members, against 20 currently. The staff representatives will be 6 of the 12 seats on the Board. They will be associated with all the decisions on the management of staff and will have a very important power, particularly for appointments to management positions. "Also the"export"of the system of co-management, this European Statute will enable us to better monitor the vain of the Directorate, in particular, the Chairman of the Board, Michael Diekmann, to dismiss a large number of employees, says Rolf Zimmermann, Allianz SE supervisory board member, one of the representatives of the staff involved in the lengthy negotiations for the transformation of the status of the insurance group.
According to him, management wants more simply the 7,500 redundancies announced in Germany, and spoke of the need to "lose weight" to become more competitive. "The Business Committee, because of his now very international membership, will be able to avoid that Directorate plays against another country." "In the current context, the passage is is almost a blessing", continues Rolf Zimmermann. Jean-Jacques the, the (CFDT) Secretary of the Committee of AGF firm, which will occupy the French headquarters, also welcomes access "to the highest observation post." "It is important to be there where strategic decisions are taken, it is the best way to hear records and to be heard," he says.
