Since Heinz Hermann Thiele took over control in the mid-1980s, the Knorr-Bremse Group, based in Munich, Germany, has become the world’s leading manufacturer of braking systems for rail and commercial vehicles (2015 revenues: $6.1 billion). Thiele, coming from poor background and ambitiously working his way through law school, joined the firm’s legal department in the late 1960s, at age 28, and quickly ascended the ranks. When the grandson of founder/inventor Georg Knorr decided to sell his ownership stake, the company found itself on the block and Thiele, backed by Deutsche Bank, emerged as controlling shareholder. In the 1990s he turned his attention to U.S. brake specialist Bendix, eventually acquiring the business entirely in 2002 and emerging with a leading position in the U.S. market. Having withdrawn from his position on the operational side of the business in 2007, Thiele has actively chaired the supervisory board and was named honorary chairman in March 2016. He’s known to always be highly engaged in the business, so much that it has been difficult to persist next to him; a number of managers have packed their bags and left in the recent years. Even his son Henrik, who was supposed to join the ranks of the board at Knorr-Bremse in July of 2015, suddenly left the company due to differences with his father. Thiele already has given a majority interest in the company to Henrik and his sister, Julia. In 2011, he started investing in quoted German railroad equipment maker Vossloh (he now holds a 45% stake and heads the advisory board).
Heinz Hermann Thiele has an estimated net worth of $10.2 billion.
After acquiring Knorr-Bremse AG in the later part of the 1980s, the company has grown into the world’s leading producer and manufacturer of braking systems for commercial vehicles and rail. In 2011, his children Julia and Henrik took over the operations of the company while Heinz Hermann Thiele still sits on the advisory board. Nowadays, he spends most of his time skiing, hiking, animal photography and philanthropic works. Heinz Hermann Thiele started his career as a legal clerk. Later on, he became the head of the legal department, sales manager of a commercial vehicle division and executive board member of the Knorr-Bremse AG. After becoming the majority shareholder, he became the Chairman of the Board in 1987.
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