Expressing Honesty and Openness: Claudia Kellert's Leadership at SGL Carbon
Investing is more than just a profession for Claudia Kellert; it's a passionate vocation in the field of Investor Relations.
A telling dedication to transparency drives Claudia Kellert's leadership as Head of Investor Relations at SGL Carbon. Facing two decades of ups and downs, SGL Carbon has been frank about its challenges, especially the tumultuous performance of their Carbon Fibers division. "We've leveled with our investors, openly admitting when it gets rough and detailing what we're doing to turn things around," Kellert explains.
Recasting the Company's Identity
When Kellert, a native of Cologne, joined SGL three and a half years ago, the air was heavy with disappointment. "Investors would show us their wounds and scars, even hurling insults," she recalls. Recognizing the need for change, the outgoing CEO Torsten Derr and CFO Thomas Dippold, who extended his contract by five years, embarked on a significant structural and cost reorganization. Both leaders pushed for and implemented a fundamental restructuring, helping SGL achieve financial stability.
SGL now stands as a vast, intricate entity. "Our primary goal is to elucidate the changes that have transpired since 2020," says Kellert. Nevertheless, many still perceive SGL as an automotive supplier. However, the company distanced itself from the idea that carbon fibers would revolutionize vehicle construction long ago. Car manufacturer BMW ceased production of the i3, whose outer body used carbon fiber composites. "SGL is now a broad and highly complex organization," Kellert explains. "We are the experts in carbon-based solutions. Much of what we produce is hidden from plain sight, requiring education to be fully appreciated."
An Unrivaled Dream Team
Denoting an internal harmony, Claudia Kellert champions the collaborative spirit between herself and the newly appointed CEO Andreas Klein. Klein, having led the largest business area, Graphite Solutions, since October 2023, has shown Kellert familiarity, professional competence, and personal camaraderie.
Both Kellert and Klein are in sync regarding the importance of investment coverage. "Like all small caps, we fight for new research," acknowledges Kellert, stating that this battle is difficult due to scaling back by banks concerning equity research. SGL lists seven addresses on its website providing comments and evaluations, but its size makes it challenging to attract major international houses. Moreover, half of the market value remains in the firm hold of significant shareholders: Skion (Susanne Klatten's participation company, 27.5%), BMW (18.4%), and Volkswagen (7.4%).
Conferences and Roadshows: A Priority for SGL Carbon
Despite their relatively small size, SGL remains an active participant in capital market conferences and roadshows. Kellert assures us that these engagements are frequently initiated independently, emphasizing the importance of personal connections. In addition to securing coverage, SGL regularly engages with private shareholders. Many of these investors are linked to the company because of family members who have worked or are currently employed at an SGL operation.
Communication and Sustainability: A Two-Pronged Approach
In addition to investor relations, Kellert oversees communication and corporate sustainability. Her team comprises seven members: two each for IR and sustainability, and three for PR. Simultaneously, the treasury department deals with debt investors, and Kellert communicates closely with them. As a result, Kellert works under three bosses starting January 1, 2025, due to her responsibilities in three areas.
Foregoing the CFO Role
Ambitions to rise to the position of CFO are far from Kellert's mind: "An IR manager remains one for life. It's a calling." This devotion to her profession is also reflected in her involvement with the German Investor Relations Association (DIRK), for which she has been a board member since 2008.
The Attraction of Medium-Sized Companies
Kellert's early career was spent with KPMG in auditing and the Bavarian State Bank. In September 2001, she ventured into communications as the head of IR and corporate development at condom manufacturer Condomi. Via real estate companies Patrizia and Colonia Real Estate, she eventually joined clothing manufacturer Gerry Weber. The bankruptcy of Gerry Weber marked the beginning of Kellert's path to SGL in Wiesbaden. Notably, all of these employers (except KPMG and the state bank) shared a small- to medium-sized company ethos: "In a smaller listed company, you're closer to things. The range of tasks is much broader," Kellert points out. "In large corporations, you only see a small part."
- SGL Carbon's leadership, led by Claudia Kellert, is actively reshaping the company's identity in the business world, especially in the realm of technology, where they specialize in carbon-based solutions.
- In the face of financial challenges, SGL Carbon's top executives, including Claudia Kellert and Andreas Klein, have leveraged technology to restructure the company, fostering a strong emphasis on openness and transparency in their communications with investors.
