Michele Puller

Michele Puller (* 1948 in Cittadella ) is an Italian-German entrepreneur and chairman of the board of the listed textile company Steilmann SE based in Bergkamen .

Life

In 1981 Puller came to Bergkamen, officially as a guest worker, at the behest of the industrial family Radici from Bergamo (Italy) to renovate the Deufil carpet yarn spinning mill in Rünthe and the carpet manufacturer Sit-In Westfalia in Bergkamen. In 1994 the Italian Miro Radici Group, headed by Puller, discovered the discounters Aldi and Lidl as buyers of its goods and experienced an economic boom.

In 2006 the family company bought the German fashion group Steilmann, and in 2013 the Italians took over Adler Modemärkte via an intermediate holding company together with the financial investor Equinox . Puller held several offices at one time and was considered one of the most successful guest workers of all time. He was also a member of the advisory board of the Borussia Dortmund football club .

IPO and economic decline

However, for a number of years now, Puller's businesses have been in decline.

In November 2015, Steilmann went public with CEO Puller full of confidence and offered shareholders the prospect of attractive growth. Instead of the planned income of 98 million euros from the IPO, less than a tenth of this sum came together. Just five months after the IPO, Puller filed for bankruptcy for Steilmann, the share price fell to 23 cents, and the issue price in November 2015 was still 3.50 euros. Several operations are to be closed, 680 employees lose their jobs. Puller kept his position as CEO despite the bankruptcy proceedings.

The shareholders' association DSW describes the development of Steilmann under Puller as a "pure disaster" and indicates criminal consequences, because the management around Puller must have been aware of the precarious economic situation of the company months ago. Two customers filed a complaint against Steilmann and suspect that Steilmann was insolvent as early as November last year. The financial supervisory authority Bafin is investigating the IPO, the public prosecutor is investigating suspected bankruptcy delay .

Wrong PhD

Puller has had a doctorate since his arrival in Germany, which he never acquired. According to the website and stock market prospectus, Puller received his doctorate in statistics and economics from the University of Rome in 1973. However, there is no necessary certificate of manageability for this title. It can be assumed that Puller has been leading a Brenner doctor instead of a real doctorate for over 30 years .

Individual evidence

1. ↑ Heino Baues: From Bergamo to Bergkamen | WAZ.de. In: www.derwesten.de. WAZ, accessed September 5, 2016 . 
2. ↑ Handelsblatt: Textile chain: Steilmann completes takeover of Adler. Retrieved September 5, 2016 . 
3. ^ Borussia Dortmund GmbH & Co KGaA: Borussia Dortmund. In: www.bvb.de. Retrieved September 5, 2016 . 
4. ↑ finanztreff.de: Steilmann SE: Interview with Dr. Puller on the planned IPO of Steilmann SE. (No longer available online.) In: www.finanztreff.de. Archived from the original on September 13, 2016 ; accessed on September 5, 2016 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  
5. ↑ Reuters: Steilmann fashion company - from the stock exchange to bankruptcy. Retrieved September 5, 2016 . 
6. ↑ Michael Westerhoff: Public Prosecutor's Office investigates Steilmann Group - Ruhr Area - News - WDR. June 23, 2016, accessed September 5, 2016 . 
7. ↑ Handelsblatt: Michele Puller: Steilmann board member has a doctorate without a doctorate. Retrieved September 5, 2016 . 
8. ^ Brennerdoktor.de: Michele Puller - Brennerdoktor. (No longer available online.) July 25, 2016, archived from the original on September 2, 2016 ; accessed on September 5, 2016 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.