Overview
- The company said Hiller exits the board with immediate effect by mutual agreement, though his service contract runs until 31 July 2026.
- No successor was named, and his duties will be divided among Michael Baur, CFO Matthias Rapp and board member Marlene Wienert, with Baur taking the strategy portfolio.
- Supervisory-board chair Gregor Scheller said the restructuring stays on course, referencing a plan through 2028 to repay about €4 billion via asset sales and major workforce reductions.
- The move followed three supervisory board meetings within a week after months of friction and a reported power struggle between Hiller and restructuring chief Baur over financial issues.
- Legal pressures persist, including a Munich prosecutor’s investigation into 2023 disclosures, alongside an external review of the crisis response.