Paul Gauselmann is stepping down from the Gauselmann Group’s Management Board and will be replaced as chairman by Lars Felderhoff and his son, Michael (pictured), is to join the Supervisory Board, it was announced today.

Paul has led the giant German manufacturing and operating business for the past 67 years as it built to sales revenues of around €4bn and external sales venues of €2.7bn.

He saId in a company release: “I have consistently devoted my energy to the company’s welfare, and at the same time to the benefit of our approximately 15,000 employees. Now the time has come to entrust my life’s work to the younger generation.”

Lars Felderhoff, CFO of the Merkur Group, will assume the role of chairman of the management board. He will be supported by Jürgen Stühmeyer, management board member with responsibility for sales, and Manfred Stoffers, management board member with responsibility for marketing, communications and political affairs, as vice-chairs.

Son Michael, who many in the industry will remember as heading up Atronic as a major slot machine manufacturer, takes the chair of the Supervisory Board and of the Gauselman Family Foundation.

Michael takes over from Manfred Grünewald on October 1 for the Supervisory Board and from his father for the foundation.

Commenting on his son’s return to an executive role in the business, Paul Gauselmann said: “I am thrilled that my son Michael is embracing this important responsibility and will contribute his international experience to our company.” Michael Gauselmann, a business administration graduate, joined the group in 1982 and worked across all business segments. He advanced internationalisation by establishing the subsidiary Atronic in 1993.

Felderhoff, the new group chairman, has overseen the finances and organisation of the Merkur Group since 2018, originally joining the Atronic team in 2000.

Commented Paul Gauselmann: “Reorganising the company by the time I turn 90 has been my wish for some time. We have accomplished this very well and are ideally positioned for the future, particularly as my son Michael, both a member of the Gauselmann family and an experienced entrepreneur, will continue to be involved in the most critical decisions.”

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