Heinz Hermann Thiele

Heinz Hermann Thiele (born 2 April 1941) is a German billionaire businessman, and the chairman of Knorr-Bremse, a German brakes maker, and chairman of Vossloh, a German transport technology manufacturer.

Heinz Hermann Thiele
Heinz Hermann Thiele portrait painting collage by Danor Shtruzman
Born2 April 1941
NationalityGerman
EducationLudwig Maximilian University of Munich
OccupationChairman, Knorr-Bremse and Vossloh
Net worth$14.6 billion (May 2019)[1]
Spouse(s)Married
Children2

Early life

Thiele was born in Germany.[1] He earned a master's degree in law (LLM), from the Ludwig Maximilian University of Munich.[1]

Career

Thiele began to work for Knorr-Bremse in 1969 as a patent lawyer. He joined the company's executive board (Vorstand) in 1985. That year, when the grandson of founder Georg Knorr wanted to sell his shares, Thiele was commissioned to find a buyer. During the process, Deutsche Bank told him that if he bought it himself, the bank would act as guarantor.[2] He purchased a controlling stake and later became sole owner.[3]

After becoming chief executive in 1987, Thiele initiated big structural changes and narrowed the group’s focus to braking technology.[4] He joined the company's supervisory board (Aufsichtsrat) in 2007. In 2018, he announced plans to take the company public on the Frankfurt Stock Exchange in what was considered the country’s second-largest initial public offering of 2018.[5]

According to Forbes, Thiele has a net worth of $14.6 billion, as of May 2019.[1]

Thiele was the largest shareholder in the German airline Lufthansa as of June 21, 2020.[6] When Lufthansa agreed to a state bailout amid the Coronavirus recession in 2020, Thiele raised his stake in the company from 10 to more than 15 percent.[7]

Personal life

Thiele is married, with two children, and lives in Munich.[1]

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References
  1. "Forbes profile: Heinz Hermann Thiele". Forbes. Retrieved 17 May 2019.
  2. Patrick McGee (September 17, 2018), German brake specialist Knorr-Bremse plots IPO Financial Times.
  3. Patrick McGee (September 17, 2018), German brake specialist Knorr-Bremse plots IPO Financial Times.
  4. Patrick McGee (September 17, 2018), German brake specialist Knorr-Bremse plots IPO Financial Times.
  5. Patrick McGee (September 17, 2018), German brake specialist Knorr-Bremse plots IPO Financial Times.
  6. "Germany to hold crisis talks with Lufthansa investor over bailout: source". CNA. Retrieved 21 June 2020.
  7. Christoph Steitz (June 16, 2020), Lufthansa shareholder Thiele raised stake to 15% -FAZ Reuters.
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