Massive Restructuring at MEYER WERFT: How the Federal and State Governments Reorganize Leadership

The crucial strengthening of the management level was initiated in early 2025 with a comprehensive stabilization and restructuring plan. This plan entailed a fundamental change in the ownership structure and the establishment of a robust Supervisory Board (AR) with employee co-determination. After it was confirmed that the shipyard was fundamentally capable of and worthy of restructuring, this step served as the political and economic commitment to the company's further development.

The entry of the Federal Government and the State of Lower Saxony as new shareholders in December 2024 shifted the existing balance of power. Both acquired stakes of about 40 percent each, investing 200 million Euros apiece. Concurrently, they pledged guarantees totaling approximately two billion Euros. The public sector thus assumes a large part of the operational risk and financially secures the shipyard.

The operational leadership, under CEO Ralf Schmitz, has the full confidence of the new shareholders. Schmitz, who is credited with playing a key role in the rescue and refinancing, is now the central point of contact for all external financial stakeholders.

As part of the reorganization, Bernard Meyer, who shaped the company for over 50 years, withdrew from operational management. He will now focus on non-operational, strategic issues in the MEYER Group Advisory Board. Jan and Tim Meyer also stepped down from the Executive Board. However, Jan Meyer has moved to the newly constituted Supervisory Board as a representative of the Meyer family.

This separation of the owner family from day-to-day business is a decisive move. It allows the new, professional management team to make the necessary, sometimes tough, restructuring decisions more objectively, detached from the emotional connection to the shipyard's history.

The most significant change is the establishment of the 12-member, co-determined Supervisory Board on January 31, 2025. This control body oversees the implementation of the restructuring plan and is intended to secure the company's future viability.

Klaus Richter, an experienced manager from major industrial corporations like Airbus and Diehl, was elected as Chairman. His election signals that the shipyard's focus is not just on finance, but primarily on process optimization and transparent, industrial corporate governance.

The Supervisory Board also includes representatives from the Federal and State Governments, including Lower Saxony's Minister of Economic Affairs, Olaf Lies. This ensures strict monitoring of state aid. Six seats are reserved for employee representatives, which Works Council Chairman Andreas Hensen described as a "real win for all employees." Co-determination has thus been significantly strengthened.

The new leadership clearly focuses on the future: Instead of competing on low wages, the shipyard relies on superior, highly complex engineering services. Over 100 new jobs are being created in the "MEYER GLOBAL ENGINEERING" sector. This represents a structural paradox: personnel are being reduced in some areas while massive investments are being made in technical expertise. The shipyard management sees this strengthening of engineering as the key to securing the remaining production jobs.

Despite the overhaul, the shipyard remains operationally capable, as demonstrated by the on-schedule delivery of the cruise ship Disney Destiny shortly before the October 2025 deadline. The structural reinforcement of the leadership is the necessary foundation to successfully complete the state-financed restructuring and eventually return the shipyard to private hands.