Volkswagen CEO Oliver Blume Tops CEO Impact Annual Ranking for 2024

The CEO Impact Annual Ranking for 2024 was published on Sunday in the Frankfurter Allgemeine Sonntagszeitung. UNICEPTA’s media intelligence experts in Cologne analyze the media presence and impact of the chief executives of DAX 40 companies for the ranking. After securing the top spot in 2023, Oliver Blume remains at number one in 2024. However, this is likely little cause for celebration for the CEO of VW and Porsche, as the parent company has faced intense public criticism and negative headlines this year.

Blume’s decisions regarding the restructuring of the Volkswagen Group and the challenges in the Chinese market shaped his media presence. In September, Handelsblatt reported on potential factory closures: “September 2, 2024, marks a turning point for Volkswagen. For the first time in the company’s 90-year history, CEO Oliver Blume publicly considered closing a German plant. Such a shock has not been felt in Wolfsburg since the aftermath of the Dieselgate scandal. While this case is different, its impact is comparable.”

In addition to coverage on the company’s struggles, significant attention was given to the software deal with Rivian. In June, Die Welt reported on Volkswagen’s multi-billion-dollar investment: “Volkswagen is now investing $5 billion (€4.7 billion). The automotive giant from Wolfsburg gains access to a technology it has so far been unable to develop independently, but which others have already incorporated into production vehicles.” However, critical voices regarding the Rivian deal have grown louder, highlighting the risk that the investment may not pay off for VW given the weak demand for electric vehicles.

Armin Papperger (Rheinmetall) and Ola Källenius (Mercedes-Benz) Follow in the Rankings

Armin Papperger takes second place in the 2024 annual ranking. The CEO of the defense group drew particular attention mid-year when it was revealed he was the target of alleged Russian assassination plans.

The ongoing war in Ukraine and the heightened tensions in the Middle East have continued to fuel uncertainty in 2024. Rheinmetall has benefited from increased demand due to these conflicts. According to Handelsblatt, Papperger predicts revenue of €20 billion by 2027. The company also made headlines internationally, with The Wall Street Journal noting, “Rheinmetall’s defense business is expected to more than double over the next three years.”

Papperger’s media presence was further bolstered by his commitment to supporting Ukraine. At the annual general meeting, he stated: “My greatest achievement has been how strongly we’ve been able to help Ukraine,” as quoted by focus.de. Rheinmetall’s satisfaction with his leadership and the company’s strong growth was reflected in the early extension of his contract through 2030. Handelsblatt headlined in November, “Armin Papperger remains CEO of Rheinmetall.”

Ola Källenius, Chairman of Mercedes-Benz, ranks third in the 2024 UNICEPTA ranking. The Stuttgart-based company also faced weaker-than-expected business in China, which was the focus of reporting in October and November. “German car manufacturers face a difficult decision: how far should they go to counter Chinese competition, which is willing to gain market share at any cost? How much of their price premium should they give up to regain customers?” reported WirtschaftsWoche. Källenius commented, “We cannot and will not engage in every price war; doing so would harm our brand and the trust our customers have in the value of a Mercedes,” emphasizing their brand strategy.

Unusually, but not uniquely, Källenius also criticized the high absenteeism rate among German employees. Der Spiegel wrote: “Mercedes does a great deal for its workforce, from occupational safety and ergonomic workflows to health counseling, flu vaccinations, and resilience training. However, improvement requires efforts from all sides,” Källenius noted. He is not alone among DAX CEOs in addressing this issue. Allianz CEO Oliver Bäte similarly pointed out in Handelsblatt that Germans have significantly more sick days than workers in the U.S. or Switzerland. This discussion also gained traction on zeit.de, ntv.de, and focus.de.
 

Bayer CEO Bill Anderson Ranks Fourth, Bettina Orlopp (Commerzbank) Makes the Top 5

The CEO of the pharmaceutical and chemical giant Bayer is driving a major restructuring to strengthen the company financially and reduce debt. Focus dedicated a four-part series to Bayer’s struggles: “In 2015, the company was valued at €120 billion on the stock exchange, more than Siemens or Volkswagen. Today, it’s worth less than €30 billion, with SAP currently worth nearly ten times as much. A dramatic decline for what was once Germany’s most valuable company.” While the restructuring received some positive coverage, particularly toward the end of the year, most reporting focused on the glyphosate-related legal reserves.

Bettina Orlopp, CEO of Commerzbank, received significant media attention since taking office in October, landing her in fifth place in the annual ranking. She is the first female CEO to enter the Top 5 of UNICEPTA’s annual ranking, largely due to her strong media presence during coverage of Commerzbank’s potential acquisition by UniCredit. Manager Magazin quoted a long-time colleague praising her strategic approach: “She has mastered the art of letting opponents come to her, patiently waiting for their mistakes, and then capitalizing on them. It’s no coincidence she has survived three CEOs at Commerzbank.”

The remaining places in the ranking are as follows: Bjørn Gulden (adidas, 6th), Christian Sewing (Deutsche Bank, 7th), Christian Klein (SAP, 8th), Timotheus Höttges (Deutsche Telekom, 9th), and Guillaume Faury (Airbus, 10th).

For the CEO Impact Annual Ranking 2024, UNICEPTA analyzed 7,558 articles from 116 German and international print and online sources published between January and November 2024. The ranking is based on results from the UNICEPTA “DAX Benchmark,” which continuously monitors the media presence of all DAX companies and their CEOs, as well as the reception probability, focus, and tone of media reporting.