Michael Otto hands over to Benjamin Otto
The Otto Group recently announced that there will be a generational change at Hamburg's largest retail company in 2026.
Accordingly, Michael Otto will hand over the management of the Otto Group to his son Benjamin Otto in 2026. According to the press release, Benjamin Otto will then become Chairman of the Board of Trustees of the Michael Otto Foundation, which holds the majority of the Otto Group's shares, and also of the Shareholders' Council. He will then control the retail and services group.
At his side will be the current Chairman of the Otto Group Executive Board, Alexander Birken. Birken will already become Chairman of the Supervisory Board in 2025, another position currently held by Michael Otto. Petra Scharner-Wolff, who has held various leading positions within the Group since 1999, is to become the new Chairwoman of the Otto Group Executive Board on March 1, 2025. Scharner-Wolff is currently responsible for Finance, Controlling and Human Resources on the Executive Board.
Benjamin Otto
In its press release, the retail group describes Benjamin Otto as a passionate entrepreneur. To date, Benjamin Otto has been active as a founder, among other things. For example, he sits on the board of the Holistic Foundation together with his wife. With regard to his future role at the Otto Group, the Group writes that Benjamin Otto will take over the strategic management of the Group from the supervisory bodies as a creative entrepreneur.