Merkur Group announces that its founder, Paul Gauselmann, will step down as the chairman of the management board starting October 2024, after leading the company for 67 years.
Gauselmann founded the group in 1957, transforming it from a small part-time business into a global company with an annual revenue of approximately 4 billion euros (4.4 billion dollars).
Lars Felderhoff, who has been the company's CFO since 2018, will take over as the chairman of the management board.
Felderhoff has a background in finance and business operations, having worked at GTech (now IGT) and Metro Cash & Carry International.
He started working at Merkur in 2011 as the commercial director of adp Merkur, overseeing the business operations of over 40 companies within the group.
In the leadership change, Jürgen Stühmeyer, responsible for sales, and Manfred Stoffers, responsible for marketing and political affairs, will serve as vice chairmen.
Gauselmann stated: "The appointment of Mr. Reinhard as the board member responsible for technology and development ensures continuity in a crucial area of development for the corporate group, while also creating space for new ideas."
The leadership change is part of a broader generational transition within the Gauselmann family. The founder's son, Michael Gauselmann, will become the chairman of the supervisory board and will succeed his father as the chairman of the Gauselmann Family Foundation board.
Michael Gauselmann has been with the group since 1982, contributing to its international expansion, including the establishment of subsidiary Atronic in 1993.
Earlier this month, Christian Reinhard was appointed as a new member of the management board, responsible for technology and development. Reinhard replaces Werner Kurt Schroer, who resigned after 19 years with the company due to health reasons but will remain as a consultant.
Reinhard has over twenty years of experience in automotive electronics development, having worked on technologies such as navigation systems and connected car systems.
