Subject category:
Strategy and General Management
Published by:
International Institute for Management Development (IMD)
Version: 14.03.2025
Length: 3 pages
Data source: Field research
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Abstract
This is part of a case series. The Handtmann case examines the co-CEO leadership model in the context of family business. Based on interviews with three key executives - the co-CEOs and the President of the Advisory Board - the case focuses on how Handtmann handled the leadership transition to the next generation. In Case B of 'Co-CEOs at Handtmann: Can the Family Business be led in Tandem?' the focus shifts to the next generation. Markus Handtmann and Valentin Ulrich, cousins from the fifth generation of the founding family, have been appointed as co-CEOs. They must now learn to work together in tandem. The president of the advisory board, who is the father and uncle of the new CEOs, respectively, has stepped down from leading the company and now embraces a supporting role. Case B explores strategies for designing effective co-leadership partnerships. It also highlights the importance of complementarity in successful tandems. Lastly, the case presents the foundational elements that enable co-CEOs to succeed in family firms.
Time period
The events covered by this case took place in 1873-2023.Geographical setting
Region:
Europe
Country:
Germany
Featured company
Handtmann Group
Employees:
1001-5000
Turnover:
EUR 1.1 billion
Industry:
Industrial engineering;Machinery
About
Abstract
This is part of a case series. The Handtmann case examines the co-CEO leadership model in the context of family business. Based on interviews with three key executives - the co-CEOs and the President of the Advisory Board - the case focuses on how Handtmann handled the leadership transition to the next generation. In Case B of 'Co-CEOs at Handtmann: Can the Family Business be led in Tandem?' the focus shifts to the next generation. Markus Handtmann and Valentin Ulrich, cousins from the fifth generation of the founding family, have been appointed as co-CEOs. They must now learn to work together in tandem. The president of the advisory board, who is the father and uncle of the new CEOs, respectively, has stepped down from leading the company and now embraces a supporting role. Case B explores strategies for designing effective co-leadership partnerships. It also highlights the importance of complementarity in successful tandems. Lastly, the case presents the foundational elements that enable co-CEOs to succeed in family firms.
Settings
Time period
The events covered by this case took place in 1873-2023.Geographical setting
Region:
Europe
Country:
Germany
Featured company
Handtmann Group
Employees:
1001-5000
Turnover:
EUR 1.1 billion
Industry:
Industrial engineering;Machinery



