Klaus Esser

In 1999, Esser was appointed as CEO of Mannesmann, where he oversaw the firm's hostile takeover by Vodafone.^[1] Despite his initial opposition to Vodafone's acquisition attempts, Esser ultimately agreed to a price of $180 billion.^[2] Immediately following the buyout, Esser received a bonus payment worth approximately $15 million.^[3] The payment provoked outrage in Germany, where executive salaries remained lower than in Britain or the United States.^[4]

Shortly after the acquisition, German prosecutors launched a criminal investigation into Esser's conduct to determine whether the promise of redundancy payments by Vodafone had influenced Esser's decision to approve the deal.^[5] Along with six other former managers of the company, he was charged with criminal breach of trust. Ultimately, Esser and his co-defendants were acquitted by Düsseldorf's regional court.

In 2005, prosecutors launched an appeal in Germany's federal court, describing the financial award given to Esser as "unique in its level."^[6] The case culminated in a settlement, with Esser paying 1.5 million euros in return for prosecutors dropping the charges levied against him.^[7]