About

Ralf Hermann is general counsel at MAG IAS, a German mechanical engineering company and MAG Europe subsidiary with a turnover of €600m. When Hermann joined in 2011, the company was being held in trusteeship, with the final goal of a sale. These were turbulent times, with the company constantly facing insolvency, during which Hermann provided ‘very intensive legal advice’. The sale did not take place, partly because the company had seen better results than expected and the banks agreed on retransferring the company to its original owners. Hermann has masterfully conducted ‘tricky negotiations with banks, clients and suppliers’, while keeping an eye on stock exchange Börse Stuttgart’s requirements, due to the company issuing an m-bond (Mittelstandsanleihe). The end of 2013 brought ‘relief when we were able to sell a loss-making part of the company in an asset deal’. But challenges never cease to arise, and currently Hermann handles financing and refinancing matters, always closely interacting with the board of directors. Overall a career highlight has certainly been ‘advising the company when entering and then when exiting its trusteeship’, a legal challenge not many in-house counsel experience.