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IBAN: DE 89 3705
0198 0008 9622 92



Dachverband der Kritischen
Aktionärinnen und Aktionäre

Postfach 30 03 07
50773 Köln

Pellenzstr. 39 (Hinterhaus)
50823 Köln

Telefon Mo bis Do
0221 - 599 56 47

0221 - 599 10 24

0173 - 713 52 37



Association of Ethical
Shareholders Germany
P.O.Box 30 03 07
D-50773 Köln

Pellenzstr. 39
D-50823 Köln

Phone Mon til Thu
+49-221-599 56 47

+49-221-599 10 24

Cell phone
+49-173-713 52 37


Information in
English Language


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Position:   English  >>  Board and Staff

Barbara Happe
Paul Russmann
Christian Russau
Stefan O.J. Klein


Dr. Barbara Happe
Berlin, born in 1968, political scientist specialised in Development and Environmental Politics notably concerning Latin America. Consultant for financial institutions at urgewald in order to fully understand and to improve the ecological and social performance of German banks.


Paul Russmann

Stuttgart, born in 1955, graduated in Theology, bank clerk, member of Ethical Shareholders’ board between 1995 and 2000 and since 2004. Executive secretary of Ohne Rüstung Leben e.V. (ORL), spokesman of Ethical Sharholders Daimler (KAD)

Christian Russau

Berlin, born in 1969, graduated in political science. He works as a journalist and editor of "Lateinamerika Nachrichten" (Latin America News) and "amerika21". Member of the the network "Kooperation Brasilien" (Cooperation Brazil).



Stefan O.J. Klein

was elected to the board of Ethical Shareholders Germany in September 2015. He works as a barrister in Cologne.




Markus Dufner, Manager


Markus Dufner
born in 1961, managing director of Ethical Shareholders Germany since September 2006; Master’s degree in History and Political Science, skilled journalist. From 1998 till 2002 advisor of press and public relations at the aid agency CARE Germany and at InWEnt.

Tilman Massa
staff member, joined Ethical Shareholders in 2017.

Monja Flemming

staff member, joined Ethical Shareholders in 2016.

Ethical Shareholders Annual Meetings

The general meeting on September 26, 2015
took place in Cologne/Germany and commemorated the deceased board member Bernd Moritz. The members discharged the board and reelected Dr. Barbara Happe, Paul Russmann and Christian Russau. Stefan Klein was elected as new board member. Detlev Dunkel was elected as revisor.

The general meeting on September 27, 2014

took place in Cologne/Germany. The members who participated discharged the board and reelected Dr. Barbara Happe, Dorothea Kerschgens, Paul Russmann and Bernd Moritz as board members. Christian Russau was elected as new board member. Stefan Klein, Cologne, was elected again as revisor. According to the statute of the Ethical Shareholders the board could consist of up to four women and four men, altogether eight persons.

In memoriam

Dorothea Kerschgens (*1948 + 2016)
We are very sad that our former fellow board member Dorothea Kerschgens died on March 11 at the age of 67. Dorothea, who was born in 1948, graduated in Social Pedagogy, was also a board member of the Co-ordination Southern Africa (KOSA).
Dorothea was one of the first speakers on annual general meetings of banks. She criticized them for collaborating with the former Apartheid regime in South Africa. Dorothea who served the Association of Ethical Shareholders Germany from 2004 until 2014 will never be forgotten.


Bernd Moritz (*1962 + 2015)
born in 1962, died in July 2015. Ethical Shareholders miss their friend and colleague. Bernd served as a board member for more than ten years and participated in many annual general meeting.
Bernd graduated in Physics, worked as a computer programmer. Since 2001 he was board member of Ethical Shareholders Germany. He was also a board member of Förderkreis Rettet die Elbe.


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