Stefan Mappus Explained

Stefan Mappus
Honorific-Suffix:Ministerpräsident a. D.
Office:Minister-President of Baden-Württemberg
President:Horst Köhler
Christian Wulff
Chancellor:Angela Merkel
Term Start:10 February 2010
Term End:12 May 2011
Predecessor:Günther Oettinger
Successor:Winfried Kretschmann
Office2:Chairman of the CDU Baden-Württemberg
Term Start2:20 November 2009
Term End2:30 March 2011
Predecessor2:Günther Oettinger
Birth Date:4 April 1966
Birth Place:Pforzheim,[1] West Germany
Party:CDU
Residence:Pforzheim, Germany
Alma Mater:University of Hohenheim

Stefan Mappus (born 4 April 1966) is a German politician from the Christian Democratic Union (CDU). He was the 8th Minister President of the state of Baden-Württemberg from 2010 to 2011[2] and chairman of the CDU Baden-Württemberg from 2009 to 2011.[1]

After losing the 2011 Baden-Württemberg state election Mappus announced his resignation of the party chair. Currently, he is a Member of the Board of Advisors of the Global Panel Foundation.[3]

EnBW affair

The public prosecutor's office in Stuttgart opened an investigation on 11 July 2012 against prime minister Stefan Mappus, several other ministers and Dirk Notheis, former head of Morgan Stanley Germany, in connection with the state's controversial purchase of a stake in utility Energie Baden-Wuerttemberg.[4] Morgan Stanley's German operations, headed by Notheis, in 2010 advised Baden-Württemberg on the purchase of a roughly 45% stake in EnBW from French state-controlled utility Électricité de France for nearly 4.7 billion euros (about $5.77 billion) valuing the asset at a multiple of 6x operating profits.[5] Also advising was Stuttgart law firm Gleiss Lutz. The transaction was signed four weeks after a decision by the German federal parliament to extend the maturities of existing nuclear power plants for another ten years on top of their existing license. Four months after the transaction, on 15 March 2011, the accident in a nuclear power plant in Fukushima/Japan happened, resulting in the decision by the Federal government to phase out nuclear generation, which adversely affected EnBW and its value. In addition to several fairness opinions as to the valuation of EnBW provided to the stakeholders at the time of the transaction, in total seven reviews over the EnBW share valuation were conducted over the process of the investigation. The dominating majority of reviews came to the conclusion that the price paid for the EnBW shares was fair. A review conducted by Professor Wolfgang Ballwieser deviated from the valuation consensus, however fell into great controversy after a material miscalculation of approximately €1b was discovered in Ballwieser's valuation.[6] [7] [8] [9]

The investigation was withdrawn by the State Attorney in October 2014 without any obligations at all to Mappus and the other individuals.[10] Stefan Mappus and all others were cleared and informed in letters addressed to their respective lawyers dated 29 October 2014, in which they were also granted the right to make claims for damages.

Personal life

Mappus is a Protestant and comes from a shoemaker-family in Mühlacker-Enzberg.[11] Since 2001 he is married to in Kleve born Susanne Verweyen-Mappus, they have two sons and live in Pforzheim.[12]

Notes and References

  1. Web site: Werdegang von Stefan Mappus. Personal Website. Stefan Mappus. German. 10 February 2010. dead. https://web.archive.org/web/20100213081731/http://www.stefan-mappus.de/person/werdegang.html. 13 February 2010.
  2. Web site: Mappus übernimmt Amt des Ministerpräsidenten. 10 February 2010. Spiegel Online. German. 10 February 2010.
  3. Web site: Global Panel Foundation – Meeting the World in Person. globalpanel.org. 17 June 2017. dead. https://web.archive.org/web/20120920100036/http://www.globalpanel.org/boards. 20 September 2012.
  4. http://www.krgv.com/news/morgan-stanley-executive-investigated-in-germany Morgan Stanley executive investigated in Germany
  5. Web site: EDF in Poland – News. poland.edf.com. 17 June 2017.
  6. News: Stefan Mappus: Im Schwabensümpfle. Marc. Brost. 24 January 2014. 17 June 2017. Die Zeit.
  7. Web site: EnBW-Deal: Hat sich Gutachter um eine Milliarde Euro verrechnet?. Stuttgarter Nachrichten, Stuttgart. Germany. 17 June 2017.
  8. Web site: EnBW-Affäre: Neue Vorwürfe gegen Gutachter der Staatsanwaltschaft. Stuttgarter Nachrichten, Stuttgart. Germany. 17 June 2017.
  9. Die Zeit, 24 January 2014
  10. Web site: Ermittlungsverfahren wegen des EnBW-Deals mit Einstellungsverfugung abgeschlossen. Claudia. Krauth. 29 October 2014. www.staatsanwaltschaft-stuttgart.de. 17 June 2017.
  11. Web site: Enzberger zu Stefan Mappus: "Immer noch einer von uns". Pforzheimer Zeitung. dead. 2010-02-10. https://web.archive.org/web/20110424023905/http://www.pz-news.de/Home/Nachrichten/Pforzheim/Enzberger-zu-Stefan-Mappus-Immer-noch-einer-von-uns-_arid%2C174691_puid%2C1_pageid%2C17.html. 24 April 2011. Nadine Schmid, Viola Kraus. 2010-02-08. German.
  12. Web site: Haudrauf muss Harmonie stiften . 2010-02-10 . dead . https://web.archive.org/web/20091028053204/http://www.stuttgarter-zeitung.de/stz/page/2253789_0_9223_-stefan-mappus-haudrauf-muss-harmonie-stiften.html . 28 October 2009 . von Andreas Müller, Stuttgarter Zeitung vom 27. Oktober 2009