Not even his closest confidants have been safe from Patrick Koller (65) in recent years. In the summer of 2023, the head of the automotive supplier Forvia dropped his long-time companion Michel Favre (65) as head of the company’s subsidiary Hella. In the industry, people always talk about the “Grande Directeur” when it comes to Koller: a power-conscious manager with an occasional tendency to have a choleric temper.
Instead of for others, it will soon be over for Koller himself. As Forvia announced on Tuesday, the CEO will step down from his position at the end of February 2025.
Koller’s successor has already been determined: Martin Fischer (54), a German manager who only joined the supplier ZF Friedrichshafen in October, will take over resigned from the board. He will immediately join as deputy boss and will then succeed Koller in March. For Fischer, the change means a return. The manager previously worked for Hella in various management positions between 2006 and 2013.
He will soon take over at the French parent company, which was once called Faurecia and which took over a good 80 percent of the German lighting and electronics specialist from Lippstadt for around 5.5 billion euros at the beginning of 2022. Since then there has been some friction between the French and German sides. Among other things, there were several disputes about the roles of the Faurecia and Hella brands under the new roof.
Forvia must continue to pay off debt after the purchase. At the same time, as with many automotive suppliers, the pressure in day-to-day business is extremely high. Both Forvia and Hella recently had to adjust their annual targets downwards. Koller then accelerated a savings program that had already been initiated in the spring: instead of within the next five years as announced, the supplier now wants to cut up to 10,000 of the 150,000 jobs a year earlier.
For Martin Fischer it will also be about stabilizing Forvia shares. The group has lost around 60 percent of its value on the stock market this year alone. In contrast, Hella shares have increased by almost 7 percent in the past twelve months.